According to the 4th Circuit Court of Appeals, if you fail to tell your state taxing authorities after the IRS adjusts your taxable income, it may prevent you from discharging your state taxes in bankruptcy. Most states with personal income taxes base their determination of taxable income on federal taxable income, subject to some additions [...]
March 2011
There’s a good recent post here on the Bankruptcy Law Network about non-filing spouses — Springfield, and Marlborough, Massachusetts’ attorney Jed Berliner’s article on “non-filing” spouses. He wrote about the impact on the means test. There are more implications, at least when you are in a state like New Mexico, with community property and community [...]
It depends on what the meaning of the word ‘is’ is. If the–if he–if ‘is’ means is and never has been, that is not–that is one thing. If it means there is none, that was a completely true statement… Testimony of William Jefferson Clinton, President of the United States, Before the Grand Jury Empaneled for [...]
Harry and David filed a Chapter 11 bankruptcy. The company famous for Oregold Peaches (9 for about $30), Fruit of the Month Club, and lots of jams and snacks and gift baskets has filed a reorganization under Chapter 11, which means that it will continue to operate but it will trim it’s operation, likely writing down debts [...]
In Saturday’s mail, my 10 year old daughter received a credit card application from “Ink from Chase“. At first I was a bit shocked by a credit card company’s decision to send a credit card application to a 10 year old child. I immediately thought: What a bunch of idiots? Are they that desperate? Do [...]
As has been often explained, Chapter 7 Debtors with primarily business debt, or otherwise not primarily consumer debt, are not subject to the “means test” adopted in the 2005 bankruptcy reform act. In fact, they are not subject to any of the provisions of the Bankruptcy Code allowing Chapter 7 cases to be dismissed for “abuse.” [...]
