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Archive for March 2012

On March 9, 2012

Inflation adjustments for 2013 tax preparations

For tax year 2013, the Internal Revenue Service announced last week annual inflation adjustments for more than two dozen tax provisions. Some of the most impacting include – -The annual exclusion for gifts rises to $14,000 for 2013, up from $13,000 for 2012. -The amount used to reduce the net unearned income reported on a