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Bankruptcy Filings California Business

July 15, 2010 By admin 4 Comments

... - Anaheim, California

State and Federal Tax Controversies

Author: Rosanne

Tax controversies can wreak havoc with a business. Our experienced tax controversy legal team can help with state and federal tax issues including audits, appeals, collections, criminal tax investigations, and civil and criminal tax litigation.

While most IRS matters are resolved administratively at the audit level or the Office of Appeals without resorting to litigation, it is important to have an experienced tax controversy team behind you, one that is skilled at both negotiation and trial advocacy. Lawyers who practice in tax law and know the ins and outs of the Internal Revenue Code, and the procedures, rules and regulations of the IRS can smooth the way through your tax controversy.

A constantly changing landscape of taxation

Skilled tax controversy lawyers are dedicated to staying abreast of changes in the way the IRS interprets the Internal Revenue Code. Tax law firms in Boston work hard to keep their clients aware of the constantly changing landscape of taxation to minimize future disputes with the IRS while seeking creative solutions to client tax problems through administrative determinations and revenue rulings. Boston tax debt lawyers are also among the top skilled litigators.

Tax debt and relief lawyers represent clients with respect to almost every type of tax law including, but not limited to, the following:

•    Income
•    Estate
•    Gift
•    State sales tax
•    Employment tax

In addition, tax lawyers also represent the following clientele:

•    Tax return preparers in preparer penalty matters and federal Circular 230 matters
•    Non-filers, including U.S. citizens with unreported foreign bank accounts and delinquent FBAR returns
•    Whistleblowers who wish to make claims for rewards from the IRS under IRC §7623

If you are facing a tax law matter in Boston or throughout Massachuttes, consider a tax law firm in Boston who has litigated tax matters in state and federal venues including the following:

•    U.S. Bankruptcy Court
•    U.S. District Courts
•    U.S. Court of Federal Claims
•    Massachusetts Appellate Tax Board
•    Massachusetts Superior Court
•    U.S. Administrative Law Judge matters
•    U.S. Tax Court
•    First and Third Circuit Courts of Appeals
•    Massachusetts Appellate Courts

Criminal tax investigation

State and federal criminal tax investigations can involve the following:

•    Income, sales, and employment taxes
•    Tax evasion
•    Failure to file
•    Aiding and abetting in the filing of false returns
•    Nonpayment of tax

Those who owe state or federal taxes might need assistance with offers in compromise, installment agreements, general dealings with state and federal tax authorities, and with discharging income taxes through a federal bankruptcy filing.

By allowing a skilled tax law firm to examine your tax controversy as early in the process as possible, they can better represent your position and help guide you to minimize the consequences of your complex tax issue. Seek skilled negotiators and zealous trial lawyers who are available to assist you.

Article Source: http://www.articlesbase.com/national-state-local-articles/state-and-federal-tax-controversies-3006789.html

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Bankruptcy Laws: How to Fix Debts?

February 17, 2010 By admin Leave a Comment


Bankruptcy laws come into force to give debtors relief from the burden of credits. In United Kingdom the process is governed by the lX part 1986 insolvency act and insolvency rules. Only individuals are allowed to apply for this act not the companies and legal entities. A person can declare himself bankrupt only by the court order following by the presentation of his petition. Here he need to laid down the points to show his insolvency i.e., not capable of paying for debts.

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Chapter 7 Bankruptcy Laws

February 13, 2010 By admin Leave a Comment

Chapter 7 Bankruptcy Laws

If filing for bankruptcy is an opportunity for a debtor to emerge out of a financial crisis and start afresh, then Chapter 7 of the Bankruptcy Code is the way to achieve this end relatively faster. Under Chapter 7 of the Bankruptcy Code all non-exempt property of the debtor is sold and the proceeds of the same are distributed to the creditors. In most cases where Chapter 7 is brought into force the debtor has no assets to lose, therefore the fresh start takes place relatively faster.

How Can I Be Sure This Is The Best Way?

Also known as liquidation (converting assets into money) or a straight bankruptcy, Chapter 7 Bankruptcy is the most common form of bankruptcy filing. This type of bankruptcy filing accounts for as much as 65% of all Consumer Banking filings. This is one of the faster ways of starting afresh, and more so if there are no objections from any of the parties involved. Ordinarily, most (if not all) debts would be discharged within months of the attorney filing a bankruptcy petition.

How Does Chapter 7 Bankruptcy Work?

A trustee is appointed who collects all non-exempt property, sells the assets and distributes proceeds from this sale to appropriate creditors. Chapter 7 is different from other bankruptcy filings because the debtor needs not make a payment to the trustee. Even though in some cases this would mean that you will lose all your assets, this need not always be the case. It is strongly recommended that if you are apprehensive and feel you will lose your assets, discuss the matter with your Bankruptcy Attorney.

Under Chapter 7 Bankruptcy, the debtor receives a discharge on all dischargeable debts. There are 19 general classes of debt, such as child support, most taxes and student loans that are discharged under Chapter 7 Bankruptcy. An added advantage with Chapter 7 bankruptcy is that by signing a reaffirmation agreement a debtor can continue to pay for a car loan or a mortgage on their home. This agreement is in place because as per the US Government Bankruptcy Code a debtor could be allowed to retain some or all of his property.

Who Can File For A Chapter 7 Bankruptcy?

The reverse of this question would be more appropriate to answer. Debtors engaged in business would usually not like the prospects of liquidation and Chapter 11 might be a better option for such individuals associated with corporations and partnerships. Also, individuals with regular income if in a debt situation would be better suited to file a Chapter 13 bankruptcy. Also, any person who has been granted a Chapter 7 discharge (or completed a Chapter 13 plan) within the last 8 years, cannot file for a Chapter 7 bankruptcy plan.

How Do I File For A Chapter 7 Bankruptcy?

Once you get down to filing for Bankruptcy you'll know exactly what we mean by repeating that our attorneys know best! Filing for bankruptcy is the fulfillment of a clearly laid of set of rules and procedures, but it is as complex as it seems simple. You need to be sure about just one thing: "Do you need to file for bankruptcy?" Once you've filled our evaluation form and got the answer to that basic question, in discussion with our attorneys give all details of your case. Be sure the information you provide is complete and correct. Once these preliminary things are taken care of, leave it to the attorneys to take your case to its logical conclusion.

To learn more about debt relief and how to get started, please visit Debt Relief.bz

Debt Relief is possible today.

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Changes to personal bankruptcy laws reflect change in economic climate

February 13, 2010 By admin Leave a Comment

Attorney-General, Robert McClelland has recently released details of proposed changes to existing personal bankruptcy legislation.

The changes are now available for public consultation and are intended to modernise the current legislation to better reflect what is actually happening in the community. Specifically, it is addressing the fact that we are increasingly seeing a larger number of bankruptcies in relation to consumers with a small amount of assets and low income levels. Where previously bankruptcy was more commonly associated with individuals who were often simply attempting to avoid paying their debts, bankruptcy is now being increasingly accessed by those who have simply found themselves having a hard time financially.

Some major items of the proposed changes include:

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Texas Bankruptcy Laws for People in Severe Financial Difficulties

February 12, 2010 By admin Leave a Comment

There are many methods that you can use to clear yourself of the many debts that you have. These methods can include going to bankruptcy courts, but you will need to know what is recommend for the bankruptcy courts in your state. The Texas bankruptcy laws of 2005 require that you go through with credit counseling before you apply for bankruptcy.

The Texas bankruptcy laws have incorporated this new bankruptcy act in their laws about debtors and creditors. In this law you will have to attend a court approved credit counseling agency sessions for at least 6 months before you can receive a certificate that will let you to apply for a bankruptcy hearing.

Once you are certified from the counseling agency to begin the process of bankruptcy you should contact a bankruptcy lawyer. This person will have to give you a means test. This means test is part of the new Texas bankruptcy laws.

The means test will determine what your financial status is so that you can apply for chapter 7 or 13 of the bankruptcy code. Depending on the means test and if you have less than $6000, after monthly living expenses, rent, food, loans and medical bills, have been deducted from your income for the next 5 years then you can qualify for chapter 7.

Otherwise you must apply for chapter 13 bankruptcy from the Texas bankruptcy laws. For chapter 13 you will need to have your repayment plan with all of the repayment details stated clearly. This should be given to the court so that they can look it over.

This way the court will be able to see if you are sincere in your desire to repay your debts. Once the court is sure that you will be able to repay all or most of your debts that you have owing, you will be able to file for chapter 13 bankruptcy.

Once the bankruptcy process for both chapter 7 and 13 has begun you will need to gather the various paperwork and documents that you need. This paperwork is required by the Texas bankruptcy laws.

The documents that you should include for your bankruptcy declaration will include an itemized list of your current income sources, the major financial transactions that you have carried out for the last 2 years, and your monthly living expenses.

You will need other items to satisfy the Texas bankruptcy laws act. The secured and unsecured debts, along with any property and assets that aren

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