Business, Legal & Accounting Glossary
Moving legal tax responsibility from one individual to another through various methods, either legal or illegal. In deflecting tax liabilities, the tax liability does not disappear but is shifted to another individual or entity. The Tax Reform Act of 1986 attempted to prevent deflection of tax liabilities, but ultimately ended up curtailing the practice.
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This glossary post was last updated: 20th November, 2021 | 0 Views.