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One thing not clear to me. The IRS is using inflation numbers here to make these adjustments, but do they have any leeway or influence or does the law simply st
by fred_is_fred 2y ago
One thing not clear to me. The IRS is using inflation numbers here to make these adjustments, but do they have any leeway or influence or does the law simply state "take this BLS/Fed number and do the math". I have the impression that it's more "apply this public formula" than "sit in your IRS conference room and figure it out" - but no basis for that at all.
- nine_zeros 2y agoThere is a legal formula for an inflation adjustment factor calculation: https://www.irs.gov/irb/2024-26_IRB#:~:text=Section%2045(e)(2,for%20the%20calendar%20year%201992 https://www.irs.gov/irb/2024-26_IRB#:~:text=Section%2045(e)(....