The Affordable Care Act, commonly known as Obamacare, will soon mean that millions more in New York and the rest of the nation will be covered by health insurance. Unfortunately, that does not always mean they will be protected from…
Many Long Island residents, who are struggling with debt and trying to save their homes from foreclosure, may feel that the game is rigged against them. Unfortunately, they may be right. Dozens of mortgage borrowers have filed a lawsuit against…
Many Long Island residents have found that filing for bankruptcy allowed them to get out of a debt trap, and gave them a fresh financial start. However, there are people whose debt problems are such that they need to file…
Foreclosure rates nationwide have been slowly but surely falling since their heights four or five years ago when the housing bust was wreaking havoc on the economy, but they are still relatively high in Long Island. Even as the real…
When businesses get stuck in debt that they cannot repay, the repercussions can be devastating to a whole community. The purpose behind Chapter 11 bankruptcy protection is not just to protect the business owners but it also helps to protect the entire…
Many Long Islanders may have heard of studies showing that medical expenses are the leading factor behind personal bankruptcy filings in America. A new study takes that sobering statistic in a new direction. The study, published in the journal Health…
The Internal Revenue Service recently reminded U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2012, that they may have a U.S. tax liability and a filing requirement…
Residents of New York are probably aware of the changes in foreclosure rates over the past few years. Foreclosure rates are rising by a huge amount in New York City, even as they fall nationwide. According to a report by…
The tax administrations from the United States, Australia and the United Kingdom announced on May 9th a plan to share tax information involving a multitude of trusts and companies holding assets on behalf of residents in jurisdictions throughout the world.…
IRS Criminal Investigation (CI) today released itsAnnual Report for fiscal 2012, highlighting strong gains in enforcement actions and penalties imposed on convicted tax criminals. The 28-page report summarizes a wide variety of IRS CI activity on a range of tax…
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