January 2007
Practical Accountant;Jan2007, Vol. 40 Issue 1, p14
Trade Publication
The article offers news briefs related to taxation in the U.S. Some of the inflation adjustments that was released by the Internal Revenue Service (IRS) for the 2007 are the personal and dependency exemption and standard deduction for singles and married individuals. The IRS issued the optional standard mileage rates for 2007 to calculate the deductible costs in business, charitable, and medical purposes.


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