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Defer or postpone paying taxes. Use strategies and investment vehicles to turned off from paying tax now. Never today make use of can pay tomorrow. Give yourself the time use of one's money. The longer you can put off paying a tax if they are not you have the use of your money towards your purposes.
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If any books of accounts, documents, assets found or seized belong to any other person, the concerned AO shall proceed against other person as provided u/s 153A and 153B. The assessment u/s 153C should be completed with twenty one months of the end belonging to the financial year when the search was conducted like assessment u/s 153A.
Clients ought to 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 a tax debt, but particular circumstances won't discharge an effectively filed tax lien. After bankruptcy, the irs cannot chase you personally for the debt, nevertheless the lien stay on any assets in which means you will not really able to trade these assets without satisfying the outstanding lien. - this includes your domicile. Depending upon the lien and when filed, might be be other options to attack the validity of the lien.
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