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October 21, 2011

IRS also announced the 2012 tax-brackets, and other items that affect almost every taxpayer.

The announcement included: tax-brackets, personal and dependent exemptions, standard deductions, estate and gift tax exemptions.  Year-end tax planning may suggest accelerating or deferring transactions to minimize 2011 and 2012 taxes.  Understanding the items to look for and completing the transactions can not wait till the last day of the year.

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