The Responsible Officer Tax – U.S. Code 6672 Most individuals have never heard of U.S. Code 6672 — also referred to as “The Responsible Officer Tax” — until they are faced with an impending IRS investigation. The IRS has the right to collect the trust fund recovery penalty (TFRP) against individuals of corporations who failed …
Chapter 11 Bankruptcy Basics Chapter 11 is a section of the bankruptcy code that permits individuals and businesses to either liquidate or reorganize debt. Not to be confused with Chapter 7 and Chapter 13 bankruptcy cases, a Chapter 11 filing involves reorganization of extensive assets and debts. Who Can File for Chapter 11 Bankruptcy? Chapter …
Hyattsville Maryland Bankruptcy Repayment Attorney Which Bankruptcy Repayment Plan is Right for Me? When filing for Chapter 11 or Chapter 13 bankruptcy, an individual is eligible to enter into a repayment plan. The process generally lasts for three to five years, allowing you to make payments on debts at a reasonable pace for your income level …
Maryland Foreclosure Rate is Highest in U.S. in October Foreclosures in Maryland are occurring at over twice the national average, but homeowners have options says bankruptcy attorney Richard L. Gilman “Contrary to popular belief, the loan modification process is not really about the homeowner’s hardship,” Gilman said. “While that is important, it is not the …
Following the 2008 economic meltdown, the subsequent massive downsizing left many people unemployed. The effects of the recession were felt across the nation, including Maryland. The overall financial crisis fell hardest on the middle class and left thousands struggling to make payments on their bills. As a result, many failed to remain solvent and had …