Grossly inflated accounts result when taxes are going crazy! (13)

I believe the answer is:

exaggerations

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'grossly inflated accounts result when' is the definition.
I can't tell whether this defines the answer.

'taxes are going crazy' is the wordplay.
'crazy' is an anagram indicator.
'taxes'+'are'+'going'='taxesaregoing'
'taxesaregoing' anagrammed gives 'EXAGGERATIONS'.

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I've seen this clue in The Irish Independent.

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