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    Category: tax

    • Connecticut – a Legacy of Debt and the Possibility of Chapter 9 Bankruptcy

      Connecticut – a Legacy of Debt and the Possibility of Chapter 9 Bankruptcy

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      The State of Connecticut ended the 2017 fiscal year on a note of financial doom. As of the end of December, 2017, the state had the most underfunded pension system in the nation with over $127 billion in government-worker pension liabilities and no viable plan to institute needed reforms. Public-Worker Pensions – The BIG Problem:…

    • Chapter 9 Bankruptcy – Santa Cruz, CA & Calpers Pension Crises

      Chapter 9 Bankruptcy – Santa Cruz, CA & Calpers Pension Crises

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      The City of Santa Cruz, CA is one of the latest municipalities to fall into what some have called a “…disturbing trend that will end in a full-fledged pension crisis” across the breadth and width of the nation. Santa Cruz is a California coastal community of 65,000 residents situated some 75 miles southwest of San…

    • Public Sector Pension Plans: A “Ticking Time Bomb”

      Public Sector Pension Plans: A “Ticking Time Bomb”

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      According to a December, 2017, washingtonfreebeacon.com report “…unfunded liabilities of state public pension funds increased by $433 billion over the past year and presently exceed $6 trillion…”. The report continues, “Unfunded liabilities of public pension plans continue to loom over state governments nationwide. Absent significant reforms, unfunded liabilities of state-administered pension plans will continue to grow…

    • PUERTO RICO & BANKRUPTCY

      PUERTO RICO & BANKRUPTCY

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      The island of Puerto Rico is officially a Commonwealth of the United States. Puerto Ricans are citizens of the United States who share many of the same rights and benefits of their fellow citizens living on the mainland. Until February, 1898, Puerto Rico had been under the colonial rule of Spain for centuries. In that…

    • Home Owners’ Association Dues in Bankruptcy

      Home Owners’ Association Dues in Bankruptcy

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      Homeowners’ Associations are a fact in Florida, from the Deed-Restricted Communities to the Condominium Associations and Co-ops, many Floridians pay Monthly, Quarterly or Yearly Assessments to enjoy the benefits of architectural uniformity, common grounds maintenance and security. Adhering to community standards in turn helps maintain the appeal of the development, thereby increasing property values, and…

    • Chapter 13 Bankruptcy Protection of Tax Refund the Matter of in Re Gibson

      Chapter 13 Bankruptcy Protection of Tax Refund the Matter of in Re Gibson

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      In Chapter 13 Bankruptcy the Chapter 13 Bankruptcy Trustee will often attempt to seize or attach the tax refund of the Chapter 13 Debtor. The position of the Chapter 13 Trustee is that the tax refund received by the Debtor is additional disposable income that ought to be contributed to the Chapter 13 Bankruptcy Plan.…

    • Creditor Harassment Summary

      Creditor Harassment Summary

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      OFFENDING PARTY A DEBT COLLECTOR? MUST BE A DEBT COLLECTOR AND NOT ORIGINAL CREDITOR COLLECTING DEBT.DID DEBT COLLECTOR IDENTIFY HIMSELF AS A DEBT COLLECTOR?WAS DEBT A CONSUMER DEBT TRANSACTION?INCLUDES BAD CHECKS, CONDO ASSESSMENT FEES, RESIDENTIAL RENTAL PAYMENTS, MUNICIPAL WATER SERVICE, REPOSSESSIONSEXCLUDES CHILD SUPPORT, TORT CLAIMS, AND PERSONAL TAXESVALIDITY OF DEBT IRRELEVANT FAIR DEBT COLLECTION PRACTICES…

    • Chapter 9 Bankruptcy: Hartford, Detroit, et al

      Chapter 9 Bankruptcy: Hartford, Detroit, et al

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      The mayor of Hartford, Connecticut, Luke Bronin has been intimating for a number of months that the city may need to file Chapter 9 bankruptcy. Chapter 9 bankruptcy is a form of bankruptcy where a municipality can seek to reorganize its debts, and arrange such debts in a reduced payment over a period of years.…

    • Taxes and tax liens in bankruptcy

      Taxes and tax liens in bankruptcy

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      WHEN TAXES MAY BE DISCHARGED IN BANKRUPTCY This article discusses the treatment of taxes due to the Internal Revenue Service (IRS). Income taxes due to the IRS may be dischargeable if such taxes meet five (5) criteria. 11 USC 507 and 523 hold that taxes are dischargeable in bankruptcy if: If the debtor, received an…

    • TAX REFUNDS IN BANKRUPTCY

      TAX REFUNDS IN BANKRUPTCY

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      The treatment of tax refunds is a popular issue in bankruptcy.  Income tax refunds are commonly considered to be part of the bankruptcy estate.  Therefore, if a debtor files Chapter 7 bankruptcy, the trustee may attempt to seize all or a portion of the debtor’s tax refund.  In a Chapter 13 bankruptcy, the trustee may…

    • DEBT SLAVERY REPLACEMENT OF INVOLUNTARY SERVITUDE AND TRADITIONAL SLAVERY DYNAMICS OF DEBT SLAVERY – PART 4

      DEBT SLAVERY REPLACEMENT OF INVOLUNTARY SERVITUDE AND TRADITIONAL SLAVERY DYNAMICS OF DEBT SLAVERY – PART 4

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      Involuntary servitude and traditional slavery, as it is widely understood, is largely absent from modern America.  However, debt slavery is not only present in these United States, but is a main foundation on which American society exists. Furthermore, most Americans not only are subject to this system, but have also willingly permitted themselves to be…

    • RAMIFICATIONS OF THE SUPREME COURT’S LAWLESS DECISION IN BANK OF AMERICA V CAULKETT

      RAMIFICATIONS OF THE SUPREME COURT’S LAWLESS DECISION IN BANK OF AMERICA V CAULKETT

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      MESSAGE FROM A BANKRUPTCY ATTORNEY IN CLEARWATER, FLORIDA PART TWO Jay Weller is a Bankruptcy Attorney in Clearwater, Florida. Jay Weller and Weller Legal Group have Law Offices in Clearwater, Port Richey, and Lakeland, Florida, and have filed over 40,000 Bankruptcies, since 1993. In order to understand this Article, please read Part One. What are…