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- 5 Common Debt Buyer Lawsuit Defenses
In addition to each of the defenses available in an original creditor lawsuit, debt buyer lawsuit defenses include standing, limited admissibility of documents, conditions precedent, and additional damages under the FDCPA.
- 5 Common Defenses to a Credit Card Lawsuit
Five Common Defenses to a Credit Card Lawsuit include reviewing consent orders, inconsistencies, contract amendments, counterclaims, and payment plans.
- Factors Elderly and Senior Investors Should Know
Investment risk factors seniors, elders, and their friends and family should be aware of.
- Willfulness and the Civil FBAR Penalty
In 2008, when it was revealed that wealthy individuals around the world were utilizing accounts and trusts in Liechtenstein to evade taxes, the United States initiated a coordinated effort with foreign governments to combat tax evasion through the use of offshore trusts and accounts. The U.S. Department of Justice (DOJ) has since launched criminal investigations of several foreign banks, many of which are ongoing.
- IRS Changing Terms for Offshore Account Holders
U.S. taxpayers hiding assets abroad should take note of the Internal Revenue Service’s plan to sharply increase penalties for such acts, while those who unintentionally fail to disclose offshore accounts will experience much more leniency.
- Planning for the Million Dollar Balance Retirement Account
A million dollar retirement account sounds like a significant sum. If something tragic were to happen, a retirement account of this size would seem to financially care for it’s beneficiaries for a long time. However, studies have shown that a typical inheritance is spent within 17 months.
- Divorce and Credit Card Debt – Known and Unknown
More and more couples are racking up excessive amounts of debt. To make matters worse, some debt, especially credit card debt, is hidden from the other spouse. Some blame this phenomenon on the fact that more marriages consist of two-income couples. Each spouse may find it difficult to relinquish control of his or her own money. But when divorce is on the horizon, how is this debt ultimately divided?
- Protect your Financial Security During and After Divorce
A growing number of people are divorcing late in life. No matter what the reason it is imperative to protect your financial security throughout and after the divorce process. You have accumulated a lot of things during the marriage—now is the time to retain as many as possible. There are savings and investment accounts, real estate and other personal and in some cases business assets to consider. An estate plan must be updated, health and other insurance replaced and the list goes on.
- U.S. District Court Upholds Multiple Willful FBAR Penalties Against Taxpayer
In a case that has raised eyebrows in the tax community, a jury in the Southern District of Florida has sustained the IRS’s assessment of multiple willful FBAR penalties against an American business man and bank director.
- U.S. to Ease Initial Enforcement of FATCA (Foreign Account Tax Compliance Act)
With FATCA set to take effect on July 1, financial institutions around the world have been lobbying to delay implementation of the law, citing concerns about costs and potential disruptions to global markets.