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The IRS has set many tax deductions and benefits secure for citizens. Unfortunately, some taxpayers who earn a top level of income can see these benefits phased out as their income increases.

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B) Interest earned, though paid, during a bond year, must be accrued after the bond year and reported as taxable income for your calendar year in in which the bond year ends.

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The auditor going using your books doesn't invariably want to find a problem, but he's to locate a problem. It's his job, and he has to justify it, and also the time he takes to write it.

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