IRS Criminal Investigation (CI) today released its Annual 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…
In 2005, Congress made substantial changes to the bankruptcy code. The resulting law made filing for bankruptcy much more difficult for consumers including that a consumer debtor is required to meet the means test in order to qualify for filing…
Sometimes Long Island businesses just need a break so they can stop and recharge their batteries. Chapter 11 business bankruptcy is a way of doing just that. Recently, the electric car maker Coda announced that it had filed for Chapter 11 protection…
Long Island businesses and individuals who are saddled with overwhelming debt may get their finances back under control by declaring bankruptcy. There are several types of bankruptcy under U.S. law, and one of the most effective is Chapter 7, or…
Many Long Island residents are struggling with debt, but some of the worst problems are borne by the young, working poor who have been saddled with debt from health care costs and student loans. These people are seriously in need…
New York residents are probably familiar with the growing problem of student loan debt. The cost of education keeps going up, and many graduates are finding that there aren’t enough well-paying jobs available to help them pay off their loans…
To those who are struggling with overwhelming debt, personal bankruptcy seems like anything but a laughing matter. But apparently some people think otherwise. Recently, the news websites Boston.com and Breitbart.com ran stories erroneously reporting that Nobel Prize-winning economist Paul Krugman…
The medical profession, one might think, is recession-proof. After all, there are always sick people, whether the economy is good or bad. But, in fact, the sluggish economy has taken a toll on doctor’s offices in New York and across…
A financial industry report recently noted that delinquent payments on credit cards appear to be falling to their lowest levels in 15 years. The American Bankers Association report said that the delinquency fell to 2.47 percent in the fourth quarter…
Long Island residents may remember Dionne Warwick’s’ voice as one of the most recognizable of the 1960s, in hits such as “Walk on By” and “Do You Know the Way to San Jose?” At 72, she still performs fairly regularly.…
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