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Revision as of 02:42, 31 October 2024

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Mandatory Outlays have increased by 2620% from 1971 to 2010, or from 72.9 billion to 1,909.6 billion yearly. I will break it down in 10-year chunks. From 1971 to 1980, it increased 414%, from 1981 to 1990, it increased 188%, from 1991 to 2000, we were treated to an increase of 160%, and from 2001 to 2010 it increased 190%. Dollar figures for those periods are 72.9 billion to 262.1 billion for '71 to '80, 301.5 billion to 568.1 billion for '81 to '90, 596.5 billion to 951.5 billion for '91 to 2000, and 1,007.6 billion to 1,909.6 billion for 2001 to 2010.

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Clients in order to be aware that different rules apply as soon as the IRS has already placed a tax lien against children. A bankruptcy may relieve you of personal liability on a tax debt, but utilizing some circumstances will not discharge a suitably filed tax lien. After bankruptcy, the government cannot chase you personally for the debt, but the lien remains on any assets anyone will never be able to trade these assets without satisfying the outstanding lien. - this includes your housing. Depending upon the lien any time filed, end up being be possibilities to attack the validity of the lien.

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