Short Sale vs. Bankruptcy filing
Some lenders today will require that you at least try for a short sale before they will consider a Deed In Lieu Of Foreclosure. Some people are in favor of doing a short sale because – It’s not a foreclosure.…
Long Island foreclosure relief scams prompt warnings
Three organizations have issued a warning to Long Island homeowners regarding con artists who falsely promise to stop home foreclosure. According to the U.S. Department of Housing and Urban Development, the New York state attorney general’s office and Long Island Housing…
American Airlines cites problems, improvements after Chapter 11
When a large corporation struggles through bankruptcy, it can often affect many areas of the business, including customer service and productivity. A Chapter 11 bankruptcy filing is often one of the more complicated forms of bankruptcy, because it involves the…
Roaming office brings legal advice to New York residents
The effects of the 2008 financial collapse are still being felt four years later as many homeowners struggle to stop home foreclosure. As many people know, New York, and especially Long Island, has been hit hard by the foreclosure crisis. Although…
Bankruptcy of firm partly responsible for the film “Titanic” leads to asset sale
A business bankruptcy, whether it’s a reorganization that keeps the firm in business or a business’s liquidation, often involves the sale of assets belonging to that company. The bankruptcy of James Cameron’s Digital Domain Productions included the sale of assets related…
Financial life after bankruptcy not so bad
The expected negative financial aftereffects of bankruptcy are often cited as a reason people delay in filing for bankruptcy protection. Many filers believe that the years following a bankruptcy will be credit-free, removing their ability to obtain loans for the…
Long Island housing prices continue to drop
Financial difficulties can strike anyone at any time. Whether they are the result of an extended illness or a period of unemployment, financial troubles can have far-reaching consequences. Many people’s most valuable assets are their homes, and protecting their homes…
Chapter 11 bankruptcy doesn’t have to be ugly
Businesses across New York and elsewhere have faced significant economic struggles in recent years. Consumers have been hesitant about spending money and millions of people have wrestled with periods of unemployment and difficulty finding new jobs. The state of the…
The Taxpayer Advocate Service (TAS)
The Taxpayer Advocate Service (TAS) is designed to be a “safety net” for taxpayers who are experiencing problems with the IRS. However, because the TAS has been inundated with requests from six million to 12 million taxpayers who may be…
International Tax Issues
On January 9, 2012, the Internal Revenue Service reopened the offshore voluntary disclosure program to help people hiding offshore accounts get current with their taxes and announced the collection of more than $4.4 billion so far from the two previous…
