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The IRS has set many tax deductions and benefits in place for citizens. Unfortunately, some taxpayers who are earning a high level of income can see these benefits phased out as their income ascends.

The IRS collected $3.4 billion from GlaxoSmithKline for allegedly cheating on its taxes. The internal revenue service contended that evaded taxes by making several inter company transactions to foreign affiliates regarding two with the memek patents and trademarks on popular drugs it possess. That is known as offshore tax fraud.

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