In March of 2009 the IRS began a six month amnesty program with reduced penalties for those who come forward and acknowledge they been have unlawfully hiding assets– and failing to pay applicable taxes on those assets. The amnesty program is part of a broader effort by the IRS to crack down on U.S. citizens who are
September 2009
Creditors Have Many Options Once They Have a Judgment Against You
An article in the September 20, 2009 Business section of the Cleveland Plain Dealer contains a good summary of the various remedies available to a creditor who has a judgment against you. Cleveland Plain Dealer columnist Sheryl Harris is discussing a $3,000 judgment obtained in a small claims court in Rocky River, Ohio; but the…
Disclosure of Secret Offshore Accounts May Have Caused Suicide of Prominent Philanthropist
Finn M. W. Caspersen, heir to the Beneficial Corporation fortune, was a patron of Harvard and Princeton and gave away tens of millions of dollars to charity. He was active in New Jersey politics. Mr. Caspersen served on the Dean’s Advisory Council at Harvard Law School. As Lynnley Browning wrote in the New York Times…
Personal Asset Protection for Physicians
Whether you are a physician in private practice or working for a hospital or other health care organization, you should consider some basic steps to protect your assets. Here are a few suggestions:
- Maximize contributions to IRA’s and other qualified plans. Assets in IRA’s and qualified employee benefit plans are generally awarded special protection from creditors. Many plans
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