Presumption of Abuse in Chapter 7 Bankruptcy

In order to properly file for Chapter 7 bankruptcy a debtor must first qualify for Chapter 7 as determined by the U.S. Bankruptcy Code. Additionally, in 2005 Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) that requires debtors to submit their income to a means test before they can qualify for a […]

Civil and Criminal Tax Fraud in NYC

In today’s current economy, many people look for ways to make ends meet with less money than they had before. However, going outside the law to do so should not be considered. Tax fraud is one of the most common white collar crimes in the country, and due to its powerhouse investment sector, it is […]

Tax Consequences of Foreclosure

Foreclosure is one of the most frightening and demoralizing occurrences in a person’s life. At best, it is a massive setback to one’s credit; at worst, it can make your family homeless. On top of the emotional and mental toll, there can also be tax consequences after foreclosure, and there are also consequences if you […]

Discharging Income and Non-Income Tax Debt

An extremely common question for filers of bankruptcy is whether or not tax debts are dischargeable. A large variety of them are, including varieties of income tax debts such as on late-filed returns. However, non-income tax debts can be a very real concern for some debtors. It is absolutely imperative to know what you will […]

Common New York Tax Incentives

A legislature, be it city, state or federal, has many options at its disposal to improve the local economy. This can include a significant amount of modification to the tax laws, to allow more money to remain in the pockets of consumers to be spent. One of the more common methods used by several locales […]