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Revision as of 02:40, 5 February 2025

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Example: Mary, an American citizen, is single and lives in Bermuda. She earns an income transfer pricing of $450,000. Part of Mary's income will be subject to U.S. income tax at the 39.6% tax rate.

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Clients must be aware that different rules apply once the IRS has already placed a tax lien against them. A bankruptcy may relieve you of personal liability on the tax debt, but in some circumstances will not discharge a properly filed tax lien. After bankruptcy, the internal revenue service cannot chase you personally for the debt, but the lien stay on any assets so you will not really able provide these assets without satisfying the outstanding lien. - this includes your domicile. Depending upon the lien as filed, may be other new to attack the validity of the lien.

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