The IRS used to use the Consumer Price Index (CPI) to calculate the past year’s inflation. However, with the Tax Cuts and Jobs Act of 2017, the IRS will now use the Chained Consumer Price Index (C-CPI) to adjust income thresholds, deduction amounts, and credit values accordingly. 2020 Federal Income Tax Brackets and Rates In 2020, […]
Personal Financial Strategy for NRIs in the USA!