Monthly Archives: January 2012

What Can Individual Arizonans Get Out of the American Recovery and Reinvestment Act?

After the big bank bailouts, a lot of Americans (Arizonans included) found themselves wondering where was the bailout money for the little guy?  As it turns out, many of the provisions of the recovery act ARE geared toward individual taxpayers.  How can an Arizona resident cash in on credits and deductions for their 2010 taxes? Check out these tips and resources from the IRS website: Homebuyer Tax Credit: first-time homebuyers and long-term homeowners buying a new primary residence by April 30, 2010 [...]

By |2012-01-31T11:31:30+00:00January 31st, 2012|Categories: Uncategorized|Comments Off on What Can Individual Arizonans Get Out of the American Recovery and Reinvestment Act?

Is Ener1’s Pre-Packaged Bankruptcy Stimulating Enough?

On January 26, two days after President Obama’s State of the Union Address, Ener1, Inc., another “green energy” recipient of $118.5 million in taxpayer stimulus dollars followed Solyndra into bankruptcy. The stimulus money was given to Ener1’s subsidiary, EnerDel, in the form of a grant from the U.S. Department of Energy. Because EnerDel was not joined with its parent company in bankruptcy, Ener1 insists the ARRA grant will not be affected. If you are unfamiliar with Ener1, it [...]

By |2012-01-31T10:55:55+00:00January 31st, 2012|Categories: Uncategorized|Comments Off on Is Ener1’s Pre-Packaged Bankruptcy Stimulating Enough?

Get Ready for the Arizona Bankruptcy Newsletter, February 2012

Our Arizona Bankruptcy Newsletter, February 2012, is now available for you to read online. Here are the highlights! Arizona Chapter 7 Bankruptcy – Dealing With Your Small Business Debts Are you a small business owner struggling with debt? Then this article is a must-read. We discuss 7 ways in which a Chapter 7 Liquidation bankruptcy provides financial solutions for the small business debtor. Tax Evasion in Connecticut If you’ve ever wondered how people get themselves into tax trouble [...]

By |2019-07-24T07:10:18+00:00January 31st, 2012|Categories: Uncategorized|Comments Off on Get Ready for the Arizona Bankruptcy Newsletter, February 2012

Do You Work in Arizona? What You Need to Know About the “Making Work Pay” IRS Tax Credit

The Making Work Pay IRS tax credit was introduced by President Obama for the 2009 tax year, but it will be available again for 2010. Here are four things you need to know about the credit: 1. The actual credit is worth 6.2% of your earned income up to your maximum credit amount: $800 for a married couple filing jointly and $400 for other taxpayers. 2. The maximum amount is reduced for higher earners; reductions start at $75,000 earned income for [...]

By |2012-01-28T11:24:58+00:00January 28th, 2012|Categories: Tax Relief|Comments Off on Do You Work in Arizona? What You Need to Know About the “Making Work Pay” IRS Tax Credit

Chapter 11 Transforms Another KODAK Moment Instamatically

The pride of inventor George Eastman and the maker of the Brownie, Instamatic, and Kodak Camera is again in transformation. The Eastman Kodak Company and its U.S.subsidiaries filed for Chapter 11 Reorganization on January 19, 2012. The case will progress through the U.S. Bankruptcy Court for the District of New York with Kodak as the debtor-in-possession. Rochester, New York, the center of Kodak’s commercial activities for almost 133 years, still has about 7,000 Kodak employees and 25,000 retirees. [...]

By |2012-01-25T12:04:02+00:00January 25th, 2012|Categories: Uncategorized|Comments Off on Chapter 11 Transforms Another KODAK Moment Instamatically

IRS Doing Everything They Can to Collect Back Taxes in Arizona

According to the IRS, approximately 20% of individual income taxes go unpaid every year. That adds up to about $300 billion a year, and results in nearly 600,000 tax liens. The states, including Arizona, miss out on a combined $60 billion in state taxes that go unpaid. But who are these people who don’t pay their taxes? And what happens to them? The IRS does not release personal information on tax debtors, but says they are doing all they [...]

By |2012-01-25T11:20:38+00:00January 25th, 2012|Categories: Uncategorized|Comments Off on IRS Doing Everything They Can to Collect Back Taxes in Arizona

Credit Card Companies Plan to Get Around CARD Act-Part 4

The CARD Act, which became law last year, was designed to protect the average consumer by limiting the fees and interest rates card issuers could charge while improving term disclosure. The final phase of the CARD act goes into effect this August, but credit card issuers are already geared up to get around the provisions and continue charging increasing credit card fees and high interest to consumers. As Arizona’s premier bankruptcy relief firm, we here at The Zolman Law, [...]

By |2012-01-22T13:37:58+00:00January 22nd, 2012|Categories: Uncategorized|Comments Off on Credit Card Companies Plan to Get Around CARD Act-Part 4

Credit Card Companies Plan to Get Around CARD Act-Part 3

The CARD Act, which became law last year, was designed to protect the average consumer by limiting the fees and interest rates card issuers could charge while improving term disclosure. The final phase of the CARD act goes into effect this August, but credit card issuers are already geared up to get around the provisions and continue charging increasing credit card fees and high interest to consumers. As Arizona’s premier bankruptcy relief firm, we here at The Zolman Law, [...]

By |2012-01-19T13:28:10+00:00January 19th, 2012|Categories: Uncategorized|Comments Off on Credit Card Companies Plan to Get Around CARD Act-Part 3

Credit Card Tricks (Part 4 of 4)

At The Zolman Law, PLLC, Arizona’s premier bankruptcy law firm, we really do care about you and your family’s financial health. In this series of blogs, we will cover some tips for avoiding or reversing the crushing credit card debt that can lead many people to declaring chapter 7 or chapter 11 bankruptcy. Making charges in other countries Many years ago, using your credit card when visiting another country was a smart move that paid off with a favorable [...]

By |2012-01-17T13:06:25+00:00January 17th, 2012|Categories: Uncategorized|Comments Off on Credit Card Tricks (Part 4 of 4)

Credit Card Companies Plan to Get Around CARD Act-Part 2

The CARD Act, which became law last year, was designed to protect the average consumer by limiting the fees and interest rates card issuers could charge while improving term disclosure. The final phase of the CARD act goes into effect this August, but credit card issuers are already geared up to get around the provisions and continue charging increasing credit card fees and high interest to consumers. As Arizona’s premier bankruptcy relief firm, we here at The Zolman Law, [...]

By |2012-01-16T13:21:27+00:00January 16th, 2012|Categories: Uncategorized|Comments Off on Credit Card Companies Plan to Get Around CARD Act-Part 2