Question: A Revenue Procedure is published each year containing adjusted amounts for the next tax year. Typically, the IRS releases these amounts in the prior year.

A Revenue Procedure is published each year containing adjusted amounts for the next tax year. Typically, the IRS releases these amounts in the prior year. Using AnswerConnect, find the Revenue Procedure that sets the 2021 amounts. Make sure you look at the primary source the Revenue Procedure -- and not secondary sources. Use this document to answer the following questions. Be very careful that you find the correct year.

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