IRS Revises 2018 Inflation Adjustments for LIHTCs, Bonds

IRS Revises 2018 Inflation Adjustments for LIHTCs, Bonds



Revenue Procedure 2017-58, released in October 2017, provided the annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules and other tax amounts for 2018, as adjusted for inflation for 2018. But a few months later, Congress passed the new tax law with the Tax Cuts and Jobs Act. The new tax law not only amends the income tax rates for individual taxpayers, but it also includes many other changes that affect individual taxpayers and business taxpayers.

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