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Start Early On Your 1971 Income Tax Return IRS Advice
The IRS urges taxpayers to begin preparations now due to 1971 tax law changes and possible under or over withholding. Many must file Form W-4 to adjust allowances, and automatic extensions may be granted with Form 4868 under specific conditions. Those failing to adjust withholding risk a sizable tax bill and possible penalties, especially high earners and working couples.
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