Each year, the Internal Revenue Service adjusts the value of the standard deductions based on inflation (and
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Each year, the Internal Revenue Service adjusts the value of the standard deductions based on inflation (and rounds to the nearest $50). In a recent year, if the deduction was worth $12,550 and inflation was 3.4 percent, what would be the amount of the deduction for the upcoming tax year?
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Related Book For 
Personal Finance
ISBN: 9781264101597
14th Edition
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
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