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You are a tax expert at the American Bar Association. You have been asked to provide your thoughts about the federal legislation that denies deductions
You are a tax expert at the American Bar Association. You have been asked to provide your thoughts about the federal legislation that denies deductions for attorney's fees under 212, and whether attorney fees should be deductible. Discuss the pros and cons of allowing the deductions, and possible solutions to mitigate against the current lack of deductibility, especially when dealing with multi-million dollar settlements
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