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Broke corporations and LLCs in Texas may not need chapter 7 bankruptcy

Quite a few people that are business-owners come into our Houston, Texas bankruptcy law office, wanting to file a bankruptcy for their small business that has failed or is failing. Often the business...

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U.S. Trustee quarterly fees for Chapter 11 bankruptcy cases increase for...

If either you or your business files a chapter 11 bankruptcy case, the chapter 11 debtor or "debtor-in-possession," which is usually a corporation or LLC, must pay a quarterly fee to the United States...

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IRS can now revoke U.S. passports to force collection of seriously delinquent...

The IRS Code Section 7345 now authorizes the IRS to certify seriously delinquent tax debt to the State Department for action. Under that federal law, the State Department is now allowed to deny...

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Houston bankruptcy court holds that individual owner of business must pay...

A recent state court collection case filed in Houston, Harris County, Texas, did not turn out well for individual owner of the Defendant business. Lee sued Ali's company for money due, and obtained a...

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So-called "national" bankruptcy legal firm Upright Law sanctioned by Virginia...

Hiring a bankruptcy law firm to handle your bankruptcy is a very personal decision. If you hire a bankruptcy lawyer off of the internet that says that they practice "nationally," you may run into...

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Texans can sell their home after filing bankruptcy and keep the money safe...

After some confusion in the law concerning what happens to Texas home sale proceeds after someone files chapter 7 bankruptcy, the 5th Circuit Court of Appeals made a ruling in March 2018 in the case of...

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I.R.S. now emphasizing criminal prosecution for large unpaid withholding taxes

If you own a business or businesses and have payroll taxes (federal income tax, FICA and Medicare tax) withheld from employees' paychecks but have not paid the money over to the government, you may be...

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HAVEN Act of 2019 will help Texas veterans qualify for bankruptcy by...

The HAVEN Act of 2019 (which stands for the “Honoring American Veterans in Extreme Need Act of 2019") provides that certain VA disability and survivor benefits will no longer be considered "current...

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Houston Bankruptcy Court rules that IRA claimed exempt under Texas law and...

Chief U.S. Bankruptcy Judge Jeffrey Bohm in Houston, Texas rule on January 30, 2015 that money taken from a Texas-exempt I.R.A. during a bankruptcy loses it exempt status, and can be seized by a...

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Houston Bankruptcy Judge finds fraudulent intent, revokes chapter 7 discharge...

If you are going to file bankruptcy, list all of your assets. If you don't disclose all of your property, in addition to possible criminal sanctions, you can have your bankruptcy discharge revoked,...

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Cashing out an I.R.A. and hiding the money from creditors in a business...

U.S. Bankruptcy Judge Jeff Bohm sitting in Houston has ruled that transfers of property in fraud of creditors can lead to the denial of a chapter 7 discharge. This is so even if the property...

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5th Circuit Court of Appeals: Common sense says that person who pays a tax is...

A husband and wife filed income taxes separately, and the husband incurred a tax debt to the Internal Revenue Service. Then the I.R.S. seized a $70,000 certificate of deposit from the taxpayer's wife,...

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Do you owe the I.R.S.? We can now access our clients' records through the...

If you owe a lot of money to the I.R.S., it can be very scary! The I.R.S. can use "enforced collection" to seize property, file liens on your property, or levy your bank accounts or wages.Many people...

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Fifth Circuit Court of Appeals says Section 707(a) of the Bankruptcy Code...

Not everyone should be able to file bankruptcy and successfully receive a discharge. At least that is what this Fifth Circult Court case holds.The main holding of this case is that a debtor's bad faith...

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The I.R.S. seizes home of 70+ year old couple for delinquent taxes

In a recent federal court case from the Western District of Washington, a U.S. District judge ordered that the principal residence or homestead of an elderly couple be sold, to help satisfy about...

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IRA's claimed as exempt in bankruptcy under Texas law become non-exempt if...

I previously wrote about this case when it was decided in the bankruptcy court by U.S. Bankruptcy Judge Jeff Bohm. Judge Bohm held that if you claim an IRA or Individual Retirement Account as exempt...

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I.R.S. Increases user fees for filing Installment Agreements to pay them back

If you owe money to the I.R.S, one option to resolve it is to enter into a payment plan or as the I.R.S. calls it, an Installment Agreement. Believe it or not, the I.R.S. charges a fee to enter into a...

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Military reenlistment bonuses are not dischargeable in bankruptcy for five...

If you reenlisted in the U.S. Army, Navy, Air Force or Marines and received a bonus, and for some reason you could not complete your agreed-upon service, you may have to repay part or all of the money....

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If you need to file bankruptcy, waiting to file can be a bad idea for many...

Last year a lady from Houston come see us about filing a chapter 7 bankruptcy. We interviewed her, determined that she qualified to file chapter 7 bankruptcy, and then we quoted her a fee and invited...

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If you file bankruptcy and claim your IRA as exempt under Texas law, don't...

The Hawks filed chapter 7 bankruptcy and claimed as exempt their $130,000 IRA account under Texas law. After the filing they took the money out of their IRA and did not reinvest it in another...

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