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The income tax brackets, standard deduction amounts, and many other tax items are adjusted annually for cost-of-living increases. These adjustments reflect the average chained Consumer Price Index (CPI) for all-urban

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The IRS has said a recent court decision upholds its longstanding position regarding abusive microcaptive insurance transactions. In Reserve Mechanical Corp. the court upheld the IRS’s position on abusive microcaptive

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At this time of year, the IRS mails notices to taxpayers regarding their recently filed returns. Notices are sent for a variety of reasons that don’t involve collection, so there’s

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