Similar to income reported on any Form 1099 issued to the taxpayer, absent any exclusions (discussed in Q to Q ) or other legal defenses, the discharged debtor must include the amount of the forgiven ...

CommentaryAttorney Analysis from Westlaw Today, a part of Thomson Reuters. October 11, 2023 - In In re The Hacienda Company, LLC, No. 2:22-bk-15163, the U.S. Bankruptcy Court for the Central District ...

The 5th Circuit punts on whether Texas LLC interests are exempt in bankruptcy. Analysis of Matter of Canada and why charging order protection isn't a statutory exemption.

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

A recent article explores the efficacy of offshore trusts in protecting the assets of debtors, Go Directly To Jail, Do Not Collect $200! Do Asset Protection Trusts Carry A Mandatory "Go To Jail" Card?

Lucas Downey is the co-founder of MoneyFlows, and an Investopedia Academy instructor. Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech and strategic finance in ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas ...

leverage that springs from an organized association of debtors, often in debt to shared creditors, to negotiate the terms and conditions of debt contracts, including the abolition of unjust debts the ...