A History Of Taxes - Part 1: Difference between revisions

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Latest revision as of 03:27, 5 February 2025

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Filing taxes is a confusing and complex process start with individuals. Making errors will happen from time to time, however the one thing you want to avoid to do is understate the income you acquire. Underreporting earnings is one way to obtain the IRS hopping mad.

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Clients end up being aware that different rules apply when the IRS has already placed a tax lien against that. A bankruptcy may relieve you of personal liability on the tax debt, but using some circumstances will not discharge a correctly filed tax lien. After bankruptcy, the government cannot chase you personally for the debt, however the lien remains on any assets which will 't be able to trade these assets without satisfying the outstanding lien. - this includes your home-based. Depending upon the lien and when filed, could be be possibilities to attack the validity of the lien.

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