What can be a result of utilizing IRS Publication 17 adequately?

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Utilizing IRS Publication 17 adequately can lead to more accurate tax return submissions. This publication serves as a comprehensive guide that provides detailed information on various aspects of the tax code, including how to properly report income, claim deductions, and credit eligibility. By following the guidelines and instructions outlined in Publication 17, taxpayers can better understand their tax situation, reduce the likelihood of errors, and ensure that their returns reflect accurate information.

Accurate submissions are crucial not only for compliance with tax laws but also for minimizing the risk of audits or penalties that may arise from misunderstandings or mistakes on tax returns. In contrast, other options such as higher tax rates or increased complexity in tax offenses are not direct results of utilizing this publication correctly. Additionally, while the IRS continually develops new regulations, this is not a direct consequence of the effective use of Publication 17; rather, it is a response to broader legislative changes and tax law updates.

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