2005 Bankruptcy Law

3:03 pm 3:03 pm

Trouble in Bankruptcy Discharge of Tax Debt

One often used technique for resolving unpaid personal income tax debt is now in doubt.  Practitioners should take care in advising delinquent return filers that bankruptcy may be available, after a two year waiting period, to discharge the tax debt. Whether or not a tax obligation is dischargeable in bankruptcy is, in part, determined by 11

6:55 pm 6:55 pm

Housing Crisis Caused By 2005 Bankruptcy Law

The 2005 bankruptcy “reform” law was really about abuse of consumers and protection of banks.  Its lofty name “The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005” was no vehicle for consumer protection.  I have long felt that this effort to make consumers more “responsible” financially has contributed to the dramatic economic downturn we have