Federal Tax Planning: A Guide for Tax Year 2024
Overview
Businesses in 2024 continue to contend with unfavorable U.S. tax law changes and reconfigured deductions from the last few years. Meanwhile, the IRS has strengthened its enforcement capabilities by upgrading its technologies and building its workforce, underscoring the importance of compliance and accurate reporting. Against this backdrop, the transition into 2025 is shadowed by uncertainty about potentially transformative tax legislation under a new administration and new Congress. But there is risk to sittling idle. This tax planning guide reflects the tax considerations and developments that may create risk or opportunity for businesses in 2024 and beyond.
For additional tax planning guidance and insights, see: