Civil and Criminal Tax Fraud in NYC

by Diana Revzin on January 5, 2015

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 […]

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Tax Consequences of Foreclosure

by Diana Revzin on January 2, 2015

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 […]

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Discharging Income and Non-Income Tax Debt

by Stephen Kass on December 30, 2014

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 […]

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Common New York Tax Incentives

by Diana Revzin on December 15, 2014

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 […]

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Tax Breaks For New Yorkers and Their Potential Issues

by Diana Revzin on December 11, 2014

In the United States, the term “tax break” is often used pejoratively, as if to imply the inherent unfairness of any regulation that does not tax everyone in exactly the same manner. However, there are valid policy reasons that cause different people to be taxed accordingly. Still, due to the stigma associated with passing ‘tax […]

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When someone files bankruptcy, they receive their discharge and most often, they believe that to be the end of it, aside from having to rebuild their credit rating. However, they can receive a nasty surprise at tax time, in the form of a 1099-C. Why Call It Income? Many take issue with the fact that […]

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Small Business Bankruptcy for Sole Proprietors

by Diana Revzin on December 9, 2014

When you are a small business owner, everything you do is intricately tied to your personal life, even if that is not your intention. If you need to file for bankruptcy due to the failure of your business, it will be no different. What many people fail to realize that if their business is a […]

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Rent-Controlled Apartments in Bankruptcy

by Diana Revzin on December 8, 2014

Property values in New York City are exorbitant compared to the rest of the state. Very often, a rent-stabilized or rent-controlled apartment is the only way that people in certain income brackets can live in the city proper. As such, the concept of rent control is something that matters to quite a lot of people. […]

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Late Filed Tax Returns: Are They Dischargeable?

by Diana Revzin on December 7, 2014

Filing a tax return late is forever a risky proposition. However, when one is planning to file for bankruptcy, it is even riskier. Most tax debts are not dischargeable in bankruptcy, but there are exceptions. However, if a return is filed late, the dischargeability of the debt on that return may go up in smoke. […]

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How Will Bankruptcy Affect Your Bank Account?

by Diana Revzin on December 4, 2014

When someone decides to file for bankruptcy in New York, one of the first things they wonder about is their bank account. Will they be allowed to keep the funds they have there? Or is the account just another asset that needs to be itemized and liquidated by the bankruptcy trustee? It is a complex […]

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