What's Happening?
Bloomberg Tax & Accounting has released its annual report projecting U.S. tax rate brackets for 2026. The report anticipates adjustments due to inflation, including changes to deduction limitations and tax brackets. It also considers new legislative impacts from the One Big Beautiful Bill Act of 2025, affecting corporate and individual taxpayers.
Why It's Important?
The projections provide valuable insights for tax professionals and individuals planning for the upcoming tax year. With inflation influencing tax brackets and deductions, understanding these changes is crucial for effective tax planning. The report highlights the need for strategic adjustments in response to legislative changes and economic conditions.
