The Internal Revenue Service released on October 31st new administrative authority for calendar year 2015 within Revenue Procedure 2014-61 that makes adjustments to more than 40 tax provisions, including the tax rate schedules, deduction levels, and many other tax provisions. It should be duly noted that Revenue Procedure 2014-61, is scheduled to be published in the Internal Revenue Bulletin 2014-47 on Monday, November 17, 2014 and can be cited here: www.irs.gov/pub/irs-drop/rp-14-61.pdf

Please consult my published article for further coverage at: https://taxconnections.com/taxblog/trick-or-treat-the-irs-releases-new-administrative-authority-governing-2015-tax-rate-and-deduction-levels/#.VFP00p3D-Uk

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