Clients often ask whether they can keep a treasured possession, like a 1968 Camaro, out of their bankruptcy? Technically, no. What Can I Keep? When filing bankruptcy, Read more >>
Author: admin@faucherlaw
When Is An Offer In Compromise Advisable?
I don’t like offers in compromise as a way to get rid of tax debt. The process is cumbersome, expensive, and arbitrary. There are better ways to deal with tax Read more »
Huge Foreclosure in Los Angeles
Being ultra-rich doesn’t insulate you from the bottom-feeding world of foreclosure and bankruptcy. Just ask Suzan Hughes, the widow of Herbalife’s founder, Mark Hughes. Read more >>
California FTB’s over-reaching definition of “doing business in California”
If it even brushes against California, the state government wants to tax it… Income earned from CA-based clients by Out-of-State Residents One of my clients is a lawyer but he moved Read more »
Tax Liens versus Levies
What’s a tax lien? A tax levy? The short answer: it’s how the IRS forces non-taxpayers to become taxpayers. What’s the difference between them? Liens Explained Ten days after sending Read more »
Asset Protection Gone Horribly Wrong
“Asset Protection” means taking steps to keep people who are suing you for money owed, from taking your money or house. I had a house-flipper client who successfully protected a Read more »
How To Respond To An IRS Notice
A recent client walked in with 15 unopened envelopes from the IRS. Even though he’d been collecting the notices for a year, he only sought help when the IRS levied Read more »
Beware Ads Promising To Get Rid Of IRS Tax Debt
“We Can Lower Your Tax Debt by 50, 70 Even 90 Percent!!!” Ads like this are highly misleading. I have many clients who go first to the hucksters pedaling such Read more »
Chapter 12 Bankruptcy & Judicial Foreclosure
An investor was trying to collect on a note, and called me to help him out: he and a bunch of strangers had loaned $600,000 to a fellow living in the outskirts of Cambria, California. The fellow Read more >>
Harsh IRS Treatment if You Owe More Than $100,000
The IRS treats taxpayers who owe more than $100,000 very differently than it does those who owe less than $100,000. If you owe more, the IRS expects immediate payment. It Read more »