What are the major tax changes expected in 2024?.

In 2024, several significant tax changes are expected, impacting both individuals and corporations. Key changes include adjustments to income tax brackets, increased standard deductions, and new credits for renewable energy investments. Additionally, certain deductions may be eliminated or modified, affecting taxable income calculations. The IRS is expected to enhance digital filing options for taxpayers, improving compliance and efficiency. These changes aim to simplify the tax system and promote economic growth.