Monthly Archives: May 2012

Ten Ways to Avoid a Tax Audit in Arizona – #6: Don’t Over-share

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 can take to minimize the chances of getting that scary audit letter in the mail. #6: Don’t Over-share You have an obligation to report [...]

By |2012-05-31T11:31:16+00:00May 31st, 2012|Categories: Uncategorized|Comments Off on Ten Ways to Avoid a Tax Audit in Arizona – #6: Don’t Over-share

Houghton Mifflin Harcourt Chapter 11 Bankruptcy

Will Chapter 11 Bankruptcy Rescue Houghton Mifflin Harcourt? Houghton Mifflin Harcourt Building, Boston, MA. Photo by Peter Vagt 2009. Houghton Mifflin Harcourt publications, the well-known publisher of text books, children’s books, trade and reference materials, fiction and non-fiction books for all readers, filed its Chapter 11 bankruptcy petition on May 21, 2012. Will Curious George get laid off? Will the Little Blue Truck find its way out of this jam? Will Karana return to her Island [...]

By |2012-05-29T11:20:54+00:00May 29th, 2012|Categories: Uncategorized|Comments Off on Houghton Mifflin Harcourt Chapter 11 Bankruptcy

Ten Ways to Avoid a Tax Audit in Arizona – #5: Keep Track of All Your 1099 Forms

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 can take to minimize the chances of getting that scary audit letter in the mail. #5: Keep Track of All Your 1099 Forms For [...]

By |2012-05-28T11:27:11+00:00May 28th, 2012|Categories: Uncategorized|Comments Off on Ten Ways to Avoid a Tax Audit in Arizona – #5: Keep Track of All Your 1099 Forms

Ten Ways to Avoid a Tax Audit in Arizona – #4: Check and Double Check

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 can take to minimize the chances of getting that scary audit letter in the mail. #4: Check and Double Check If you are not [...]

By |2019-07-24T19:00:43+00:00May 25th, 2012|Categories: Tax Law, Tax Relief|Comments Off on Ten Ways to Avoid a Tax Audit in Arizona – #4: Check and Double Check

IRS “Fresh Start” Expands Tax Relief

IRS Fresh Start Program As many taxpayers breathe a collective sigh of relief with April’s tax deadline now in the recent past, still others have serious tax issues yet to be resolved with the Internal Revenue Service (IRS). We have good news for those hoping to resolve their unpaid tax problems – the IRS expanded its tax relief assistance under the “Fresh Start” program. IRS “FRESH START” TAX INITIATIVE There are three tax relief programs that the IRS [...]

By |2019-07-24T21:52:39+00:00May 23rd, 2012|Categories: Tax Law, Tax Relief|Comments Off on IRS “Fresh Start” Expands Tax Relief

Ten Ways to Avoid a Tax Audit in Arizona – #3: Don’t make Easy for IRS

Ten Ways to Avoid a Tax Audit in Arizona - #3: Don’t make it TOO Easy for the IRS 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 can take to minimize [...]

By |2019-08-13T09:46:31+00:00May 22nd, 2012|Categories: Tax Law, Tax Relief|Comments Off on Ten Ways to Avoid a Tax Audit in Arizona – #3: Don’t make Easy for IRS

Were Arizona Home Equity Loans “Free Money?”

In what may be one of the biggest ironies of the recession, financial experts are now saying that the more money Arizonans borrowed on their homes during the housing boom, the less likely they will be to have to pay any of the money back – that is if they file for bankruptcy protection and get their home equity loans charged off as unsecured debt. People who borrowed money against their homes and have now hit hard economic [...]

By |2012-05-19T12:02:34+00:00May 19th, 2012|Categories: Uncategorized|Comments Off on Were Arizona Home Equity Loans “Free Money?”

LightSquared Restructures with Chapter 11 Bankruptcy

Virginia’s LightSquared Restructures with Chapter 11 Bankruptcy In what some believe is a serious setback to satellite-terrestrial mobile communications in the U.S.A., the Reston, Virginia, wireless internet service company LightSquared, Inc., filed for debt relief under Chapter 11. Its May 14 petition was filed in the U.S. Bankruptcy Court for the Southern District of New York. LightSquared’s Canadian affiliate filed a parallel proceeding with the Superior Court of Justice, Toronto, Ontario. LightSquared’s 4G Wireless Network In addition to [...]

By |2012-05-18T10:22:44+00:00May 18th, 2012|Categories: Uncategorized|Comments Off on LightSquared Restructures with Chapter 11 Bankruptcy

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 ability to pay their debts. According to the debt counseling agencies themselves, the percentage of people who are able to go into an [...]

By |2012-05-16T11:57:54+00:00May 16th, 2012|Categories: Uncategorized|Comments Off on Is Arizona Debt Counseling Effective When People Just Can’t Pay?

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 organization dedicated to research and education on matters related to insolvency,” the American Bankruptcy Institute (ABI) has taken the first important step toward [...]

By |2012-05-14T16:56:30+00:00May 14th, 2012|Categories: Uncategorized|Comments Off on Is Congress Remixing Chapter 11 Bankruptcy?