Blog : Posts

May 16

Is Arizona Debt Counseling Effective When People Just Can’t Pay?

One of the most highly-touted changes to the bankruptcy laws in 2005 was the addition of a credit counseling requirement. Anyone wishing to declare bankruptcy must first undergo credit counseling by a certified counseling agency. But consumer advocates are saying that the counseling requirement is just a meaningless hurdle when most client simply don’t have the [...]

May 14

Is Congress Remixing Chapter 11 Bankruptcy?

The bankruptcy laws controlling Chapter 11 reorganizations haven’t been significantly revised in several decades. Many bankruptcy professionals and politicians are saying that the time for Chapter 11 change is long overdue. The emphasis for distressed businesses? Improving implementation of business reorganization procedures and improving employee retention. ABI Goes to Washington As “the largest multi-disciplinary, non-partisan [...]

May 13

Credit Card Issuers Still Writing Off Debt Despite Tougher Bankruptcy Laws

Credit card issuers fought hard – and spent a lot of money – to get congress to change consumer bankruptcy laws back in 2005, effectively making it much harder to declare bankruptcy. The legislation has not had the desired effect. As the economy continues to stumble, the extra roadblocks to bankruptcy protection are not stopping people [...]

May 10

IRS Offer-In-Compromise Program Fraught with Delays

On March 30, the Treasury Inspector General for Tax Administration released the results of its 2001-2009 audit of the IRS in a 29-page report – Increasing Request for Offers in Compromise Have Created Inventory Backlogs and Delayed Responses to Taxpayers. What Is the Offer in Compromise? Simply put, the Offer in Compromise (OIC) is a [...]

May 10

Consumer Advocacy Group Works to Block Businesses from Using Credit Checks to Screen Employees

As the economy gets tighter, an increasing number of employers are using credit checks to screen potential employees. “Not fair!” says consumer advocacy group Unite Here – and we here at The Pew Law Center, PLLC have to agree. So far, Unite Here has been successful in getting three states to pass laws that limit an [...]

May 07

Phoenix, Arizona Bankruptcies in Decline

Despite the fact that Arizona has been particularly hard hit with the recession and a struggling housing market, Phoenix actually reported a drop in bankruptcies in July– making it the fourth month in a row that filings dropped. Four in five Valley bankruptcies in Arizona are Chapter 7, with the majority of the remainder being [...]

May 04

Bashas’ Outlook Good After Chapter 11 Bankruptcy

Bashas’ will emerge from Chapter 11 bankruptcy as a leaner and more profitable company than it was only a year ago, when the company originally filed for bankruptcy protection on July 12th 2009. What’s more, the Basha family of Arizona will still maintain control of the company, the company’s famed and beloved Western art collection will remain [...]

May 01

IRS Penalties Slam Those Who Fail to File, Fail to Pay

Nobody enjoys paying taxes or dealing with the Internal Revenue Service. When you owe a big payment, it can be tempting to just put your head in the sand, ignore it and hope it goes away – especially if you don't have the money available. Unfortunately, the IRS isn't going to simply let that slide. [...]

May 01

Ponzi to American Idol – Arizona Bankruptcy Newsletter, May 2012

Time to take a break from your busy schedule, grab your favorite soda, and relax with what’s newsy in our Arizona Bankruptcy Newsletter, May 2012! Beware of “Debt Settlement” Companies We’ve warned you before about giving your hard-earned money to those questionable debt settlement companies. These are the ones that target debt-burdened consumers and make [...]

May 01

Ten Ways to Avoid a Tax Audit in Arizona – #2: Don’t “Do-it-yourself”

There are few things Arizonans dread more than the news that they will be getting audited by the IRS. Even the most scrupulous of taxpayers can spend many sleepless nights wondering if they have categorized and documented their deductions and credits properly. In this series of blogs, we will look at the ten basic steps you [...]

Apr 28

Ten Ways to Avoid a Tax Audit in Arizona – #1: Don’t Claim Questionable Deductions

Apr 25

IRS Taxpayer Customer Service Called “Unacceptable”

If you run into a problem while trying to figure out your taxes, the IRS website helpfully invitesyou to call their toll-free tax hotline at 1-800-829-1040. But don’t get too excited – the IRS has a service of goal of answering only 71% of calls, and the average “on hold” wait time for taxpayers is 12 [...]

Apr 23

Why Not Use Your Tax Refund to Pay for Bankruptcy?

Taxpayers struggling with debt know how meaningful the tax refund can be in easing financial pain, albeit for only a short while. But this year, many individuals will use their tax refunds to permanently resolve their painful out-of-control debt problems. As many as 200,000 consumers are expected to use their 2011 tax refunds to cover [...]

Apr 17

Tempe Suffers Green Power Outage at First Solar Inc.

Tempe Suffers Green Power Outage at First Solar Inc. Tempe, Arizona, solar panel producer First Solar, Inc., is laying off 2,000 employees, reducing its international work force by about 30%. Along with a reduction in its U.S. and European employment numbers, First Solar announced it will indefinitely idle four of its production lines in Kulim, [...]

Apr 16

Arizona’s High Sales Taxes

Do you believe your city’s sales tax is too high? If you’re living or working in Glendale, Mesa, Phoenix, or Tucson, then you’re right. These four Arizona municipalities rank among the top 10 sales tax charging cities in the nation. Not the best news for area residents and business owners, as high sales tax rates [...]

Apr 16

What Can You Expect When You Have a Bad Debt in Arizona? (Part 5 of 5)

A lot of Arizonans are in the same boat these days; a bad economy and a bad job market have caused hard times and put a lot of people behind on their bills. Waiting for the bill collectors to start calling can be a nerve-wracking experience, and dealing with the calls once they do come adds [...]

Apr 13

What Can You Expect When You Have a Bad Debt in Arizona? (Part 4 of 5)

Apr 10

What Can You Expect When You Have a Bad Debt in Arizona? (Part 3 of 5)

Apr 07

What Can You Expect When You Have a Bad Debt in Arizona? (Part 2 of 5)

Apr 06

Show Me the Refund Money! IRS Owes Arizona Taxpayers $25 Million

Are you an Arizona taxpayer who didn’t file a 2008 tax return with the IRS? You might just want to take care of that. The IRS owes over $1 billion to U.S. taxpayers across the country. Of that, almost $25 million is owed to Arizona taxpayers who didn’t file a return in 2008 to collect [...]

Apr 05

Remember When Private Student Loans Were Dischargeable in Bankruptcy?

Prior to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), private student loans were indeed dischargeable in bankruptcy. By contrast, educational loans issued or guaranteed by the federal government have been nondischargeable in bankruptcy since the U.S. Bankruptcy Act of 1978. Since BAPCPA’s passage in 2005 and its exception of private student [...]

Apr 04

What Can You Expect When You Have a Bad Debt in Arizona? (Part 1 of 5)

Apr 01

In Arizona, Debt Collection is Big Business

As the Arizona economy continues to suffer, debt collection has become a booming business in Arizona. If you have ever been on the receiving end of a collections effort, you know that an unpaid credit card bill can haunt you for years as the debt gets sold from one company to the next. But on average, [...]

Apr 01

Ready to Spring into the Arizona Bankruptcy Newsletter, April 2012?

The Desert Spring has arrived in the Valley of the Sun and so has the newest Arizona Bankruptcy Newsletter, April 2012. This is what you’ll find in the Pew Law Center’s winning April edition. Could Chapter 7 Be Better Than Chapter 13 for Your Situation? There are many considerations that go into filing for federal [...]

Mar 29

Should Private Student Loans Be Dischargeable in Bankruptcy?

Should private student loans be dischargeable in bankruptcy? The question may be simple, but the answer is far more complicated. When we examine educational borrowing in this country, we note two distinct issues: the ever-increasing cost of obtaining an education and the heightened burden that private loans put on student borrowers. No Discharge of Private [...]

Mar 29

Owe Taxes to the IRS? You May be Surprised by a Lien on Your Arizona Property

According to the Treasury Inspector General for Tax Administration (TIGTA), the IRS is mishandling lien filings made against people who owe back taxes to the IRS. Problems include copies of lien notices not being sent to the taxpayer’s representative, the IRS not using the correct last known address to send the notice, and simply not sending [...]

Mar 27

Tale of Two Cities: Detroit and Stockton on the Brink of Bankruptcy

Once the heartbeat of the Midwest, Detroit, Michigan, has suffered a long, slow economic decline. In the 1960s, Democrat President Lyndon B. Johnson’s Great Society and War on Poverty would make Detroit the poster-city for social reform. The Great Society was further expanded by later presidents and, in the decades that followed, became precisely what [...]

Mar 27

Fat “Tax Resolution Shops” Collapse Under Own Weight

American Tax Relief, “Tax Lady” Roni Lynn Deutch, J.K. Harris & Co., and now Tax Masters, Inc. – lawsuits and bankruptcy for fat “tax resolution shops” are indeed a reversal of fortune. American Tax Relief Shut Down In October of 2010, the U.S. District Court for the Northern District of Illinois, Eastern Division, shut down [...]

Mar 26

Tax Informant Wins Ruling – May Be Entitled to 15% of $100 Million Tax Bill

When Dorothy Dillon Eweson, daughter of Wall Street financier Clarence Dillon, died in 2005 she left behind an estate worth $300 million. A few years later, the boyfriend of the widow of one of Eweson’s grandsons and a Nashville lawyer, William Prentice Cooper, filed what is known as a Form 211 “award for original information” with [...]

Mar 23

Health Care Reform Creates Additional IRS Tax Burden for Arizona Small Businesses

What does health care reform have to do with Arizona small business taxes? As it turns out, there is a provision in the health care reform law that would require all businesses to file form 1099 with the IRS for any company they buy goods and services from if the total amount is more than $600 [...]

Mar 20

Former AZ Lawmaker Miranda Pleads Guilty to Tax Evasion and Fraud

Representative Miranda Resigned from the Legislature in February After thirteen years of service in the Arizona legislature, 56-year-old Tolleson Democrat Richard Miranda resigned from the House on February 16, 2012, for what he described as family and health reasons, both of which are probably true although not directly. He had quietly served his Arizona [...]

Mar 19

Phoenix Tax Attorney Serves Up the Dirtiest Top Tax Scams

The IRS just released its annual Dirty Dozen tax scams for 2012. Although most of those are geared toward taxpayer attempts at scamming the IRS, a few are scams directed at taxpayers themselves. So you don’t get trapped in the scammer’s web of deceit, Phoenix tax attorney Lawrence ‘D’ Pew serves up three of the [...]

Mar 17

Saving Your Arizona Home from Foreclosure through Bankruptcy

To distressed Arizona homeowners, the idea of saving your home by declaring bankruptcy seems too good to be true. But it’s not. When you file for bankruptcy protection, foreclosure proceedings come to a halt, debt collectors are required to stop calling, and in many cases debtors can reorganize their finances so that they can keep their [...]

Mar 14

Dealing with Creditors(Part 5 of 5)

It happens to everyone at some point or another. A little bad luck can put you behind on your bills. Before you panic, learn the basics on dealing with different types of creditors so you can keep a little slip up from snowballing into a financial crisis. Credit Card Issuers (and other “unsecured” debt) Credit [...]

Mar 13

8 Ways to Get Your Tax Return in the IRS Cross-Hairs

Maybe you’ve heard that the IRS doesn’t have time to audit more than 1% of all individual tax returns in any given year. But that’s small comfort when you’re among the 1% who gets audited! If you do be sure the contact the best gilbert tax lawyers. Who is most likely to receive that dreaded [...]

Mar 13

Friendly Ice Cream Shaves Off the Fat and Exits Bankruptcy

Last October, the Friendly Ice Cream Corporation, based in Wilbraham, Massachusetts, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. Suffering the consequences of increased commodities costs (such as the cream ingredient), high rents, and the recessionary diminution of its regular customer base, Friendly Ice Cream Corp. launched [...]

Mar 12

Fannie Mae Opens HomePath to Nationwide Online Sales

With its 2010 pilot program in three test markets – Detroit MI, Orlando FL, and San Diego CA – a verifiable success, Fannie Mae has given the green light to nationwide online sales of its enormous inventory of REO houses. In fact, now all offers on HomePath properties must be made using the HomePath Online [...]

Mar 11

Dealing with Creditors(Part 4 of 5)

Mar 09

Grubb & Ellis Agrees to Sell-Off in Chapter 11 – Feeding the BGC Behemoth

Along with 16 affiliates, Grubb & Ellis, Co., the Santa Ana, California, based commercial real estate brokerage firm – the third largest in the Sacramento area, employing over 3,000 people in 90 U.S. offices – filed for Chapter 11 bankruptcy in celebration of Presidents’ Day. G&E characterizes its commercial endeavors as “providing transaction services, property [...]

Mar 08

Dealing with Creditors(Part 3 of 5)

It happens to everyone at some point or another. A little bad luck can put you behind on your bills. Before you panic, learn the basics on dealing with different types of creditors so you can keep a little slip up from snowballing into a financial crisis. Student Loans For better or for worse, lenders [...]

Mar 08

4 Quick Tax Tips as Another Filing Deadline Approaches

Once again, tax time is upon us. Here are four quick tips from the tax preparation specialists on the Pew Law Center’s team. 1. File an application for automatic extension of time by April 17. If your individual income tax returns will not be ready to file by April 17, then consider filing your automatic [...]

Mar 05

FHFA Rejects Principal Paydown Plan for Chapter 13 Homeowners

The National Association of Consumer Bankruptcy Attorneys (NACBA) put its collective heads together and came up with the Principal Paydown Plan to assist homeowners who file for Chapter 13 Wage Earner bankruptcy. The Principal Paydown Plan was designed to help Chapter 13 debtors avoid foreclosure on their homes by making principal-only payments under a five-year [...]

Mar 05

Is Bankruptcy Best? Foreclosure May Trigger Big Tax Troubles for Arizona Homeowners

When faced with losing your Arizona home, it’s hard to think of any option as having a benefit. But this is no time to be in denial – it’s time to look at all of your options and pick the one that will have the best possible outcome for you and your family. For example, most [...]

Mar 02

Small Businesses Get Tax Break on Health Insurance

The IRS has released some guidance on the new temporary health insurance tax credit that is sure to have Arizona small business owners feeling better right away. Beginning in 2010, businesses with fewer than 25 full-time employees whose average salary is less than $50,000 will qualify for a tax credit. The credit, which was created by [...]

Feb 29

Arizona Bankruptcy Newsletter, March 2012 – Means Test or World’s End?

Time again to take a break from your work, grab a fresh cup of coffee, and kick back for a moment to read the all new Pew Law Center Arizona Bankruptcy Newsletter, March 2012. Just to pique your curiosity, here’s a taste of what we’ve published in this month’s newsletter. Bankruptcy Doesn’t Have to Be [...]

Feb 27

The IRS Owes Arizona Taxpayers Nearly $2 Million – What’s Your Share?

The IRS is sitting on federal income tax refund checks for more than 2,600 Arizona residents. The checks total almost $2 million in unclaimed tax funds – and the largest check is for $46,504. If you are one of the “lucky” ones owed a check, the IRS would actually very much like to get you any [...]

Feb 24

IRS Clarifies Solar Tax Credits for Arizona Residents

Going “green” with solar power is a great way to ease your impact on the environment. And there are quite a few tax credits for Arizona residents that can ease the impact of a solar energy system on your wallet, too. The trouble is that these tax credits can be difficult to understand. One of [...]

Feb 22

Asset Acceptance Smacked with $2.5 Million FTC Penalty

In its role as the enforcer, the Federal Trade Commission (FTC) entered into a consent decreewith Asset Acceptance, LLC, in which the company agreed to accept a $2.5 million civil penalty for various violations of the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA). One of Our Nation’s Largest Debt Buyers [...]

Feb 21

Bank Delivers “Missing” Foreclosure Papers

Arizona isn’t the only state with wild stories of banks abusing the foreclosure system. William Berta of Sarasota, Florida has lived in his modest home for several decades. He owns and operates a local small business, gets a benefits check from the Veteran’s Affairs every month, and continues to pay his water and power bills. [...]

Feb 20

U.S. Student Loan Debt Bomb Will Detonate… Soon

Student loan relief is not a part of consumer bankruptcy protection. Members of the National Association of Consumer Bankruptcy Attorneys (NACBA) believe student loan relief is essential and should be restored. Failure to address the growing problem of educational loan debt puts both borrowers and our struggling economy at even greater risk. According to the [...]

Feb 18

The Biggest Arizona Home Defaulters are the Wealthy

While the foreclosures and bankruptcies caused by the housing boom and subsequent bust hit the poorer areas of Arizona first, the trend has now reached to the higher classes. According to an article in the New York Times, one in seven homeowners with a mortgage of over $1 million have stopped paying their mortgages – and [...]

Feb 15

Fannie Mae Pushing for Tougher Punishments for Arizona Mortgage Walk-Aways

In the aftermath of the housing bubble bursting, many hard working Americans were left with mortgages that were a lot larger than the current value of their homes. At the same time, many of these same people were suddenly unable to make their mortgage payments, whether because they were laid off, their adjustable rate adjusted up [...]

Feb 12

Desperate Debt Collectors Get Nasty – What Arizona Debtors Can Do to Protect Themselves

As American consumers continue to hurt financially from the slow economy, desperate debt collectors are getting and many are stepping outside the law to harass well-meaning citizens who have simply fallen on hard times. While harassing phone calls are old hat for debt collectors, many have stepped up the pressure by using abusive language and [...]

Feb 09

The US Economy Gains Jobs: Will That Mean Fewer Arizona Bankruptcy Filings?

The good news is that, according to Automatic Data Processing (ADP), the private sector added jobs again in June, for the fifth straight month in a row. The bad news is that the 13,000 jobs added are far fewer than analysts expected, and a lot fewer than have been added in each of the last [...]

Feb 06

New Reform Bill Protects Arizona Consumers against Predatory Lending Practices

The United States Congress recently passed a financial reform bill into law that President Obama has called "the toughest financial reform since . . . the aftermath of the Great Depression." And he may well be right about that. The new legislation is far stronger than most experts had expected, and goes a long way toward [...]

Feb 03

What Can Arizona Businesses Get Out of the American Recovery and Reinvestment Act?

After the big bank bailouts, a lot of American small business owners found themselves wondering why there was no bailout money for them. As it turns out, many of the provisions of the recovery act are geared toward small businesses and your employees. How can an Arizona business cash in on credits and deductions for your 2010 [...]

Jan 31

What Can Individual Arizonans Get Out of the American Recovery and Reinvestment Act?

After the big bank bailouts, a lot of Americans (Arizonans included) found themselves wondering where was the bailout money for the little guy? As it turns out, many of the provisions of the recovery act ARE geared toward individual taxpayers. How can an Arizona resident cash in on credits and deductions for their 2010 taxes? Check out these [...]

Jan 31

Is Ener1’s Pre-Packaged Bankruptcy Stimulating Enough?

On January 26, two days after President Obama’s State of the Union Address, Ener1, Inc., another “green energy” recipient of $118.5 million in taxpayer stimulus dollars followed Solyndra into bankruptcy. The stimulus money was given to Ener1’s subsidiary, EnerDel, in the form of a grant from the U.S. Department of Energy. Because EnerDel was not [...]

Jan 31

Get Ready for the Arizona Bankruptcy Newsletter, February 2012

Our Arizona Bankruptcy Newsletter, February 2012, is now available for you to read online. Here are the highlights! Arizona Chapter 7 Bankruptcy – Dealing With Your Small Business Debts Are you a small business owner struggling with debt? Then this article is a must read. We discuss 7 ways in which a Chapter 7 Liquidation [...]

Jan 28

Do You Work in Arizona? What You Need to Know About the “Making Work Pay” IRS Tax Credit

The Making Work Pay IRS tax credit was introduced by President Obama for the 2009 tax year, but it will be available again for 2010. Here are four things you need to know about the credit: 1. The actual credit is worth 6.2% of your earned income up to your maximum credit amount: $800 for a married [...]

Jan 25

Chapter 11 Transforms Another KODAK Moment Instamatically

The pride of inventor George Eastman and the maker of the Brownie, Instamatic, and Kodak Camera is again in transformation. The Eastman Kodak Company and its U.S.subsidiaries filed for Chapter 11 Reorganization onJanuary 19, 2012. The case will progress through the U.S. Bankruptcy Court for the District of New York with Kodak as the debtor-in-possession. [...]

Jan 25

IRS Doing Everything They Can to Collect Back Taxes in Arizona

According to the IRS, approximately 20% of individual income taxes go unpaid every year. That adds up to about $300 billion a year, and results in nearly 600,000 tax liens. The states, including Arizona, miss out on a combined $60 billion in state taxes that go unpaid. But who are these people who don’t pay their [...]

Jan 22

Credit Card Companies Plan to Get Around CARD Act-Part 4

The CARD Act, which became law last year, was designed to protect the average consumer by limiting the fees and interest rates card issuers could charge while improving term disclosure. The final phase of the CARD act goes into effect this August, but credit card issuers are already geared up to get around the provisions [...]

Jan 19

Credit Card Companies Plan to Get Around CARD Act-Part 3

Jan 17

Credit Card Tricks (Part 4 of 4)

At The Pew Law Center, PLLC, Arizona’s premier bankruptcy law firm, we really do care about you and your family’s financial health. In this series of blogs, we will cover some tips for avoiding or reversing the crushing credit card debt that can lead many people to declaring chapter 7 or chapter 11 bankruptcy. Making charges [...]

Jan 16

Credit Card Companies Plan to Get Around CARD Act-Part 2

Jan 13

Credit Card Companies Plan to Get Around CARD Act-Part 1

Jan 12

Ding Dong! Hostess Files Chapter 11

In New York on January 11, the all-American tasty treat baking company, Hostess Brands, Inc., filed for bankruptcy under Chapter 11. This isn’t the first bankruptcy for the baker of Twinkies and Ding Dongs. After filing a previous bankruptcy as Interstate Bakeries Corporation in 2004, Hostess Brands emerged from that Chapter 11 in February 2009. [...]

Jan 07

Credit Card Tricks (Part 3 of 4)

Jan 04

Credit Card Tricks (Part 2 of 4)

Jan 01

States outside Arizona Trying Shame Tactics to Collect Tax Debts – Will Arizona be Next?

Arizona residents take note: fifteen states currently publish the names of residents who owe money for back taxes. While Arizona isn’t one of these states – yet – the success of the other fifteen may soon convince Arizona to try this tactic. Currently, tax delinquents who owe money to the states of California, Colorado, Connecticut, Georgia, [...]

Dec 29

Sometimes the IRS or the State of Arizona are Just Wrong about How Much You Owe in Taxes

Think the IRS or the Arizona state tax board is infallible? Think again. When an official IRS or State of Arizona letter arrives in the mail saying you owe back taxes, it might be best to take a closer look. Dinah White of Wisconsin was quite aware that she owed the state back taxes – but [...]

Dec 26

Celebrity Pamela Anderson “Embarrassed” over IRS Tax Problems

The California Franchise Tax Board recently revealed that former Dancing With the Stars and Baywatch star Pamela Anderson owes the state nearly a half million dollars in unpaid taxes. For her part, the TV star says that she is doing her best to pay back the taxes she owes and resolve the situation withthe state [...]

Dec 23

Credit Card Tricks (Part 1 of 4)

Dec 21

The Rising Costs of Bankruptcy

In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act, commonly called BAPCPA. The act made sweeping changes to bankruptcy law that were intended to lower the number of all filings, especially Chapter 7 cases, while simultaneously preventing abuse of the system by those who viewed bankruptcy as an easy solution to their [...]

Dec 21

New Year Edition of AZ’s January Bankruptcy Newsletter Available Now!

The New Year’s edition of our Pew Law Center Arizona Bankruptcy Newsletter, January 2012, is now available for you and yours to read and enjoy. We’ve included some interesting and practical articles in this month’s newsletter, so grab your morning coffee and take a look see at what’s happening. The Automatic Stay: How [...]

Dec 20

Bankruptcy Relief Available for Arizona Military Service Members under the SCRA

The Service members’ Civil Relief Act (SCRA) was enacted to give active service members protection in certain civil actions that could adversely affect them during their military service. The act was designed to help active service members focus on their military duties without the distraction of civil legal actions. The act protects all members of [...]

Dec 19

RoomStore Files For Bankruptcy

Another victim of the slumped housing market, the Richmond, Virginia, publicly held home furnishings seller RoomStore, Inc., (traded under the OTC Bulletin Board ticker symbol ROOM) is in financial trouble and filed for Chapter 11 Reorganization debt relief on December 12. Founded in Dallas, Texas, in 1992, the original RoomStore chain was purchased by [...]

Dec 17

Warning: Be Sure to Visit an Approved Arizona Credit Counselor before Filing Chapter 7 Bankruptcy

If you are filing for Chapter 7 Bankruptcy in Arizona, or any other state in the US, you must be sure that all of your paperwork is in order before you file. For example, you need to complete credit counseling with a US trustee approved agency and receive a credit counseling certificate to file with your [...]

Dec 14

Alabama’s Jefferson County Files Chapter 9 Mega-Bankruptcy

In the late afternoon of Wednesday, November 9, Alabama’s Jefferson County filed for bankruptcy protection under Chapter 9, a chapter reserved for municipalities only. The county commissioners had struggled to reign in the county’s out-of-control debt, only to decide in a 4-1 vote to file under the U.S. Bankruptcy Code. “We’ve reached that last resort,” [...]

Dec 14

Arizona Bankruptcy Means Test Calculator

While the 2005 bankruptcy laws were designed to make it more difficult for consumers to file for bankruptcy, many Arizona residents still qualify for Chapter 7 bankruptcy relief. If you are wondering about your Arizona bankruptcy options, you can use this handy calculator to find out if you qualify. The calculator will ask you some questions [...]

Dec 11

Attorney General Candidate in Hot Water

Tom Horne, Arizona Republican candidate for State Attorney General, is taking heat for his failure to report a previous bankruptcy when filing annual reports between 1997 and 2000 for his law firm. The forms, which must be filed with the Arizona Corporation Commission, ask whether any partner in the law firm had ever been a [...]

Dec 08

Arizona-based Bashas’ Supermarkets Still Plans to Exit Chapter 11 Bankruptcy in July

Nearly a year after Bashas’ Supermarkets filed for Chapter 11 bankruptcy, the company announced that it would still exit bankruptcy in late July, despite recent financing problems. Bashas’ may need to exit bankruptcy before all of the financing is lined up to pay off its creditors. Bashas’ is working with investment banks to find the [...]

Dec 05

Teacher Hit with Quarter Million Dollar Tax Bill

Come on, admit it – you’ve “Googled” yourself to find out what information might be floating around on the internet about you. If you haven’t, you probably should; Molly Wotring, a part-time elementary school teacher from South Carolina recently Googled herself for fun – but what she found didn’t leave her laughing. According the South [...]

Dec 02

How do Wealthy Americans get into Trouble with the IRS?

The staff at USA Today recently dug into the federal tax lien files in several of the country’s wealthiest zip codes – including Beverly Hills and Malibu, California and Greenwich, Connecticut. What they found were hundreds of the nations’ wealthiest people living in multi-million dollar homes yet suffering from tax problems with the IRS. So [...]

Nov 29

Arizonans Take Note: America’s Most Famous Tax Evaders

Not everyone runs into problems with the IRS because they can’t afford to pay their taxes. Many wealthy and famous people have IRS trouble because…well, let’s just say that they all have their reasons. Many live openly lavish lifestyles while the IRS tries to collect on their overdue bills. Let’s take a look at some of [...]

Nov 26

Ten Frequently-missed Tax Deductions for Arizona Taxpayers (Part 2 of 2)

Even if you use an expert to help prepare your taxes for the IRS, Arizonans should still keep an eye out for the top ten tax deductions and credits many people fail to claim. We already covered the first five in a previous post: Ten Frequently-missed Tax Deductions for Arizona Taxpayers (Part 1 of 2). The [...]

Nov 24

Money-Saving Holiday Tips in AZ’s December Bankruptcy Newsletter

The Pew Law Center’s Arizona Bankruptcy Newsletter, December 2011, is now ready for you to enjoy and share with friends and family this holiday season. Don’t forget to set aside some quiet time for yourself during this busy time of year. Sit back and relax a little with your favorite cup of holiday cheer [...]

Nov 23

Who’s Most Likely to File For Bankruptcy in Arizona? You Might Be Surprised.

The Institute for Financial Literacy recently compiled a demographic study of bankruptcy filings for the US . Their findings show which demographic groups are more or less likely to file for bankruptcy. While the study was for the whole country, I’m sure Arizona residents can take something away from this insight into bankruptcy. Bankruptcy by Age [...]

Nov 20

Many New Lawyers Jump into the Growing Arizona Bankruptcy Field – Debtors Beware

Bankruptcy law is filled with many nuances that can trip up debtors if they are not careful – or if they don’t have an experienced Arizona bankruptcy attorney. Unfortunately, the turbulent economy has sent Arizona bankruptcy filings to an all-time high – attracting attorneys from other fields to start “specializing” in Arizona bankruptcy. But bankruptcy is [...]

Nov 17

Controversial Arizona Immigration Law May Increase Foreclosures in Phoenix Metro Area

The passing of SB 1070 – Arizona’s tough new immigration law – certainly caused a stir in the media. But according to some experts it may also cause disruption in the already delicate housing market, sending even more people into foreclosure and bankruptcy. Deterring illegal immigrants from coming to or residing in Arizona is the [...]

Nov 15

Pew Law Center’s November Newsletter Is Now Available Online

Can you believe that Thanksgiving is less than two weeks away! In preparation for this uniquely American tradition, the November issue of our Pew Law Center Bankruptcy & Debt Relief Newsletter is now available for you to read online and download. Here are some interesting topics we’ve covered in this month’s newsletter: Understanding the Limitations [...]

Nov 11

Ten Frequently Missed Tax Deductions for Arizona Taxpayers (Part 1 of 2)

Even if you use an expert to help prepare your taxes for the IRS, Arizonans should still keep an eye out for the top ten tax deductions and credits many people fail to claim. The first five are: State and local income tax: Forty-three states allow residents to deduct state and local income taxes paid [...]

Nov 08

How Tax Law Has Evolved Over the Last Decade

The last decade has certainly been filled with wild financial ups and downs – but it has also seen quite a collection of tax law changes. Some of the highlights of the first decade of the new millennium include: Economically Stimulating Tax Rebates: Rebates designed to stimulate economic growth were sent out underGeorge W. Bushin 2001, [...]

Nov 05

New IRS Guidelines Will Affect Arizona Tax Payers and Tax Professionals

More than eighty percent of Americans turn to paid tax preparers or tax preparation software when it comes time to file their taxes. The IRS has recently released the results of a landmark study that suggests both tax payers and the federal government will benefit from new registration, testing, and continuing education of tax preparers. Based [...]

Nov 02

Tips for Arizona Residents to Avoid Tax Preparers Who Might Get Them in Trouble with the IRS

Up until the 2009 tax year, literally anyone could prepare a federal tax return for someone else for a fee. All they had to do was hang out a shingle and start doing other people’s taxes. While some tax preparers chose to voluntarily hold themselves to a higher standard (such as becoming licensed with their state [...]

Oct 30

Understanding Arizona Bankruptcy: How Long Does a Bankruptcy Stay on my Record?

If you’re considering filing bankruptcy, you know it can be a confusing and overwhelming time. At The Pew Law Center, PLLC we are dedicated to giving our clients the best possible legal guidance through life’s most challenging times. In this series, “Understanding Arizona Bankruptcy,” we will cover a multitude of bankruptcy facts and FAQs – [...]

Oct 27

12 Myths of Bankruptcy – Myths 10-12

Bankruptcy – whether it’s chapter 7 or chapter 13 – has a lot of negative connotations, and a lot of fears and myths surrounding it. But when you simply can’t pay your obligations with your current income, filing bankruptcy in Arizona is a legal, ethical, and dignified way to make a fresh start. At The Pew [...]

Oct 24

12 Myths of Bankruptcy – Myths 7-9

Oct 21

12 Myths of Bankruptcy – Myths 4-6

Oct 18

12 Myths of Bankruptcy – Myths 1-3

Oct 15

5 Steps to Better Debt Handling

It has been estimated that private American citizens are carrying nearly $700 billion in revolving credit card debt. At the same time, the recent recession has affected a huge percentage of Arizonans. These two factors alone may explain why Arizona has one of the highest bankruptcy rates in the US. While bankruptcy offers a fresh start [...]

Oct 13

Capital City of Harrisburg PA Files Chapter 9 Bankruptcy

The capital city of Harrisburg, Pennsylvania, with a population of about 47,000 filed for municipal bankruptcy relief under Chapter 9 on Wednesday, October 12. This is the second city to file Chapter 9 this year – Central Falls, Rhode Island, entered bankruptcy just last August. Harrisburg Controller Dan Miller believes this was the best thing [...]

Oct 12

IRS Joins Forces with Foreign Countries to Stop Tax Evasion

The IRS has announced that it will be working with certain foreign governments to scrutinize tax returns filed by wealthy Americans. The new program is meant to be used to prevent the wealthy from practicing “tax arbitrage,” which means evading taxes in the US by hiding money in a country with more favorable tax laws. The [...]

Oct 09

How Long Should Arizona Residents Keep Records for their Federal Tax Returns?

Most people know that it is important to keep track of the documents that they will use to fill out their tax returns. Once the tax return is filed, however, most are unfamiliar with how long they need to keep those records. If you are audited by the IRS, you will be required to produce certain [...]

Oct 06

Advance Tax Planning To Avoid The IRS

Come April every year, thousands of bloggers, tax preparers, and news reporters put out articles on tax planning. But planning ahead for taxes is a discipline that takes place all year long – whether you file quarterly or once a year. Start your tax planning strategy with the basics. This includes using legal and ethical tactics [...]

Oct 03

Arizona Tax Guide: Figuring Out Your Estimated Federal Tax Payments

The main reason most Arizona individuals and small business owners run into tax problems with the IRS is that they fail to pay their quarterly estimated taxes correctly. But figuring out your estimated payments is nowhere near as hard as doing your annual return in April. While the IRS provides a worksheet to figure your April [...]

Sep 30

A Loss for Arizona, Bankruptcy Attorney Joseph C. McDaniel Has Died

Leading Phoenix, Arizona, bankruptcy attorney, Joseph C. McDaniel, has passed away. PHOENIX,Ariz.,September 29, 2011– We are saddened to announce the passing of fellow bankruptcy attorney Joseph C. McDaniel. A graduate of Arizona State University, and a member of the State Bar of Arizona since 1980, McDaniel leaves behind a great legacy of legal work for [...]

Sep 30

Understanding Arizona Bankruptcy: What Debts are Discharged in Chapter 7 Bankruptcy?

If you’re considering filing bankruptcy, you know it can be a confusing and overwhelming time. At The Pew Law Center, PLLC, we are dedicated to giving our clients the best possible legal guidance through life’s most challenging times. In this series, “Understanding Arizona Bankruptcy,” we will cover a multitude of bankruptcy facts and FAQs – [...]

Sep 27

Understanding Arizona Bankruptcy: When Should I Declare Bankruptcy?

Sep 24

Recovering from Arizona Bankruptcy – Understanding Your Credit Score

While most Arizona residents understand that their credit is tracked and reported by the credit reporting agencies, many don’t realize that their entire credit history is boiled down into just one number – called a “credit score” or “FICO score.” This single number will dictate whether or not you get a loan as well as [...]

Sep 21

Five Steps Arizona Residents Can Take to Recover from Bankruptcy – Part Two

In part one of this article we talked about how many Arizona residents in financial trouble declare bankruptcy to get a fresh start. But after bankruptcy, you still need to focus your efforts learning new habits: 3. Be proactive about your finances If you start to fall behind on some payments, DO NOT bury your head [...]

Sep 18

Five Steps Arizona Residents Can Take to Recover from Bankruptcy – Part One

For many Arizona residents in financial trouble, declaring bankruptcy is their path to a fresh start. But while it brings your debt under control, you still need to focus your efforts on bouncing back – and that means learning new habits that will help keep unexpected problems from sending you back into economic turmoil. According to [...]

Sep 15

How Arizona Small Business Owners Can Plan Ahead to Keep Current with Quarterly Taxes

One of the biggest reasons many self-employed Arizonans or Arizona small business owners run into IRS Tax problems is that they fail to keep up with their quarterly tax payments. The IRS set up the quarterly tax payment system so that small businesses would pay their taxes on a more regular basis throughout the year [...]

Sep 12

US Supreme Court Agrees to Review Constitutionality of Arizona Private School Tuition Tax Credit

The United States Supreme Court has agreed to review the constitutionality of an Arizona tax credit that has been battling its way through the Arizona state court system for nearly a decade. The private school tuition tax-credit allows taxpayers to take a dollar-for-dollar tax credit of up to $1000 for donations made to non-profit organizations called [...]

Sep 09

Five Tips for Avoiding an IRS Audit – A Guide for Arizona Taxpayers

While the very thought of an IRS audit would have even the most scrupulous Arizona taxpayers shaking in their cowboy boots, the average Arizonan can rest easy. The IRS, like all government agencies, has a limited budget when it comes to auditing taxpayers in Arizona and the rest of the US. The IRS itself reported [...]

Sep 06

IRS set to work with Swiss Bank Account Providers to Find Arizona Tax Evaders

According to IRS Commissioner Douglas Shulman, thousands of US citizens – including Arizona residents – who have been hiding funds in offshore accounts in order to avoid paying taxes will be found out and required to pay their fair share. The news came out after the IRS reached a deal with the government of Switzerland recently; [...]

Sep 03

Understanding Arizona Bankruptcy: Filing Chapter 13

Aug 31

Understanding Arizona Bankruptcy: Filing Chapter 7

Aug 28

Arizona Leads Nation in Bankruptcy Filings

2009 was not banner year for the average Arizona resident. Nationwide, consumers and businesses alike declared bankruptcy in numbers that made 2009 the 7th worst year for bankruptcy filings in history – an increase of 32% from 2008. But Arizona was the hardest hit state in the nation, with a jump in filings of a [...]

Aug 25

Arizona Residents Wondering if Bankruptcy Is Right for Them

A popular debt columnist, Mary Hunt, recently wrote an opinion column calling filing for bankruptcy a “moral failing.” Her own personal story involves pulling herself out of $100,000 in credit card debt without declaring bankruptcy; but now she seems a little quick to judge others. Many personal finance experts recommend that if you can’t realistically [...]

Aug 22

Real Housewife Television Show Star Declares Bankruptcy Despite Lavish Lifestyle

The Real Housewives of New Jersey is a popular “reality” TV show that follows the fabulous lives of five fabulously wealthy New Jersey Housewives. But for at least one of the stars of the show, her luxurious lifestyle wasn’t all it seemed. After being featured on the show building and furnishing a brand new multi-million [...]

Aug 19

Win the Lottery? Don’t Forget that Arizona Taxpayers are Required to Pay Taxes on Winnings

Everyone knows that they need to pay taxes on regular income, but not everyone is as familiar with how the IRS treats windfalls – lottery and gambling winnings, inheritances, prizes, stock dividends and other unexpected and infrequent cash payouts. It may come as no surprise that the IRS requires taxpayers to pay taxes on all income, [...]

Aug 16

What Can Arizona Residents or Small Business Owners Do if They Owe Back Taxes to the IRS?

If you owe back taxes to the IRS, you are not alone. There are millions of people across the US who owe back taxes to the IRS. The vast majority of these people are either self-employed or small business owners who have fallen behind on their quarterly tax payments. According to a recent article on [...]

Aug 15

Phoenix Home Prices Continue To Fall

The Case-Shiller Home Price Index is the best-known measure of home price changes in the United States and it paints a gloomy picture of residential real estate in Phoenix through 2013. According to Case-Shiller, Phoenix prices have declined some 55 percent since their peak in 2006, a decline that places home values at the equivalent [...]

Aug 05

ATTENTION TAXPAYERS! Arizona Tax Amnesty Program Begins on September 1, 2011

The Arizona legislature passed the Arizona tax amnesty program bill in an effort to move toward balancing the state’s budget. Senate Bill 1616, which was approved on April 6, 2011, created a tax recovery program for the state. With the exception of estate tax and property tax, the Arizona tax amnesty program covers all local [...]

Aug 03

Choosing the Right Arizona Tax Relief Attorney

When you have a tax debt or other problem with the IRS, you need the help of an experienced tax relief attorney to make sure you are treated fairly and get the best settlement possible. A quick Google search or look through the white pages will turn up hundreds of attorneys claiming to be the [...]

Jul 29

Getting Answers from the IRS is Getting Tougher

Recently the IRS has undergone budget cuts while at the same time being asked to administer several new stimulus and benefits programs. Once health care reform goes into effect, the IRS will also be responsible for calculating healthcare subsidies and collecting penalties from the uninsured. What does that mean for Arizona taxpayers? If you do [...]

Jul 21

PLC is Hiring!

*****IF YOU WANT THIS JOB BE SURE TO READ THE ENTIRE AD AND FOLLOW DIRECTIONS***** Telephone Appointment Setter and Collections MANAGER Telephone Appointment Setter and Collections MANAGER needed for rapidly growing cutting edge law firm with a focus in bankruptcy and tax resolution. We are seeking an experienced telephone appointment setter who is self motivated, [...]

Jul 15

IRS Revokes Tax Exempt Status of 4,000 Arizona Non-Profits

What has come as a surprise to many, the IRS has automatically revoked tax-exempt status for approximately 275,000 nonprofit organizations across the country. In Arizona alone, over 4,000 groups have lost their tax-exempt status. Here is a small sampling of area charities, foundations, and not-for-profit organizations that have been rendered non-exempt from federal taxes: Amerind [...]

Jun 09

Top 4 Reasons Arizona Residents and Small Businesses Run into IRS Tax Problems

The majority of people who run into tax trouble with the IRS are those who are required to file and pay quarterly taxes. While the reasons for falling behind on your taxes are many, the result is the same: garnishments, audits, penalties and interest, not to mention, worry, stress, and lost sleep. According to a [...]

Mar 20

Phoenix and Greater Arizona Home Foreclosure Rate Rises Again

After two months of positive news in the Phoenix Housing market, the numbers for June 2010 revealed a disappointing increase in the foreclosure rate from 33% to 36%. This is according to a Realty Studies report released by the WP Carey School of Business at Arizona State University. The report’s authors attribute the rise in [...]

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