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Jack Johnson files for bankruptcy thanks to parents’ loans against contract

admin — Mon, 24 Nov 2014 19:00:39 +0000

Who do you trust with your money? Many of us would probably list “parents” near the top of that list. Which is why the tale of Columbus Blue Jackets defenseman Jack Johnson is so shocking and deplorable. Aaron Portzline of the Columbus Dispatch reported on Thursday that Johnson filed for bankruptcy on Oct. 7, claiming […]

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Nation’s Biggest Buy-Here, Pay-Here Dealer Fined $8 Million

admin — Mon, 24 Nov 2014 18:56:33 +0000

It’s been a bad week for debt collectors who employ questionable tactics. The largest buy-here, pay-here car dealer in the nation must pay an $8 million civil penalty after an investigation by federal authorities found it had repeatedly harassed consumers and furnished incorrect information to credit bureaus. DriveTime Automotive Group offers car purchase agreements that […]

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Student Loan Crisis Busts Retirement Savings

admin — Wed, 25 Jun 2014 14:30:37 +0000

California’s Congressional delegation, the largest and most influential in the nation, is undergoing a major upheaval, the result of reapportionment and retirements, threatening the state’s influence in Washington next year and forcing members to scramble to withstand what is emerging as a generational wave. A quarter of the state’s 53-member delegation to Washington could be […]

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IRS Plan Will Let Some Unemployed Taxpayers Avoid Penalties

admin — Wed, 25 Jun 2014 14:28:30 +0000

Taxpayers who have been unemployed for at least 30 days in 2011 or 2012 will be able to avoid some penalties for failing to pay their taxes, the Internal Revenue Service said. Those struggling taxpayers would have an extra six months to comply and avoid the failure-to-pay penalty. They would still owe interest on back […]

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ATTORNEY GENERAL CHARGES “DEBT BUYERS” WITH DEFRAUDING MINNESOTA COURTS

admin — Wed, 25 Jun 2014 14:21:58 +0000

Minnesota Attorney General Lori Swanson today in a legal filing accused one of the nation’s largest “debt buyers” of defrauding Minnesota courts and citizens by filing false and deceptive “robo-signed” affidavits—generated at its offices in St. Cloud, Minnesota—to collect on old consumer debts that it purchased from credit card companies and others for about three […]

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I.R.S. Loses Tax Case Against Lay of Enron

admin — Wed, 25 Jun 2014 14:07:23 +0000

The United States Tax Court rejected a bid by the Internal Revenue Service to collect $3.9 million from the estate of the former Enron chief Kenneth L. Lay and his wife. The case was related to transactions among Mr. Lay, his wife, Linda, and Enron that were executed on Sept. 21, 2001. The Lays sold […]

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Thousands Come Clean as IRS Gets $2.7 Billion

admin — Wed, 25 Jun 2014 14:04:33 +0000

The Internal Revenue Service has taken in a total of $2.7 billion from holders of offshore bank accounts, the agency said as it announced that 12,000 taxpayers responded to the second round of a partial amnesty program. IRS Commissioner Douglas Shulman said yesterday that the agency’s emphasis on international tax enforcement prompted more people than […]

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Debt collector erroneously garnishes OC lawmaker’s wages

admin — Wed, 25 Jun 2014 13:58:05 +0000

You’d think if you were about to garnish the wages of a state lawmaker you’d do everything you could to ensure you had the right guy. So imagine State Sen. Lou Correa’s surprise when he received notice at his State Capitol office last month that his earnings were being seized to pay off a debt […]

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It’s Not Too Late For IRS Amnesty

admin — Wed, 25 Jun 2014 13:53:44 +0000

It’s not too late to enter the IRS 2011 Offshore Voluntary Disclosure Initiative (or OVDI). The program runs through August 31, 2011, offering what IRS Commissioner Shulman called the “last, best chance” to come clean. The IRS’s 2009 offshore disclosure program netted about 15,000 taxpayers. See IRS Sets Offshore Amnesty, Part II. Since then, 3,000 […]

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Two Louisiana Women Sued for Tax Fraud Scam

admin — Wed, 25 Jun 2014 13:49:59 +0000

The Department of Justice recently filed a lawsuit in a U.S. District Court in an attempt to bar two women from preparing federal tax returns for others. The civil injunction, filed in the Eastern District of Louisiana, alleges that Cathy Vinnett, and her daughter, Lashanda Vinnett, both of Destrehan, La., prepared federal tax returns for […]

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