Civil litigation often decides who owes what to whom. Bankruptcy law can impact ongoing litigation and what happens thereafter to those who owe. And to those to whom money is owed. So it behooves litigators to have a good grasp on how bankruptcy works. If you’re defendant’s counsel, you want to assess your client’s options should […]
Last Minute Tax Break For Distressed Homeowners
Days before the end of the tax year, the massive tax bill changed the rules retroactively. And for once, the change benefited individual taxpayers. The tax bill revived, for tax year 2017, the exclusion from income accorded to phantom income upon foreclosure, short sale, or loan modification. The provision that created an exception protecting […]
IRS Shakedown Happening In Bankruptcy Court
The latest IRS scam is happening in bankruptcy, out in the open. Now usually when I write about IRS scams, I’m talking about genuine bad guys either pretending to be the IRS to hijack your money or pretending to be you to the IRS, to hijack your money. But nobody is pretending in the trick […]
20 Years Of Bankruptcy In Brief
Twenty years ago this month, Soapbox’s parent website, Bankruptcy In Brief, went live with four pages of basic bankruptcy information. My law partner quietly thought writing about law for the internet was off base. My lawyer colleagues thought I was giving away the store. I persisted (which wasn’t then a catch phrase) because I was […]
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