Tax Law Blog | IRS Tax Attorneys
TAX LAW NEWS - TAX LITIGATION
From the category archives:
Former hostage Terry Anderson, who was held captive in the Middle East for 6 1/2 years, has filed for bankruptcy.
In the chapter 7 bankruptcy filed Nov. 3, which was first reported by The Columbus Dispatch in Ohio, Anderson claimed $1.8 million in liabilities and $60,000 in assets.
Anderson was chief Middle East correspondent for The Associated [...]
{ 0 comments }
Health care reform supporters like Elizabeth Edwards, a breast cancer survivor and wife of former presidential contender John Edwards, cite research that both the insured and uninsured are facing bankruptcies for overwhelming medical bills.
The share of bankruptcies attributable to health care costs rose by 50 percent between 2001 and 2007. Some 62 percent of bankruptcies [...]
{ 0 comments }
The possibility of bankruptcy can have a big impact on an IRS compromise. The suggestion of the possibility of bankruptcy can act as leverage. It will reduce the value to the IRS of an offer in compromise.
When you file bankruptcy it can discharge your tax liabilities. Any taxes that could be discharged by a potential [...]
{ 0 comments }
General Motors Corp.’s plan to slash its dealer network by the end of 2010 may accelerate, matching the pace set by Chrysler LLC, in a bankruptcy the biggest U.S. automaker says is probable.
GM began telling 1,100 U.S. dealers yesterday their franchise agreements wouldn’t be renewed, meaning they would stop selling cars in about a year. [...]
{ 0 comments }
All recent indications are that the IRS is plowing ahead in its collection efforts under a weakening economy. Revenue Officers continue to push hard, and there are no signs that Automated Collection Service has backed off its levy and lien filings.
The unfortunate result of this pressure is that more and more clients are turning to [...]
{ 0 comments }
