Michigan Bankruptcy and 1040 Income Taxes. Yes, provided the 5 following rules are met: 1. The taxes at issued must be 1040 Income Taxes. Taxes such as payroll taxes, trust fund taxes, sales tax or fraud taxes are treated differently. 2. The 3 Year Rule. The income tax return for which the taxes are owed…
Archives for michigan bankruptcy attorney
Michigan Bankruptcy – District Court Decides Stephenson – Says Inherited IRAs Fully Exemptable
Bankruptcy in Michigan Inherited IRAS. Debtors Daniel and Janet Stephenson appealed an Order in their Ch. 7 bankruptcy to the U.S. District Court, Eastern District of MI, Southern Division. The Standing Trustee’s objections to their claimed exemptions had been sustained. Among their assets, the Debtors listed three inherited IRAs, exempting them in full through the…
Bankruptcy in Michigan – 6th Circuit Says Perfection Follows Secured Lien, Even After Assignment
Michigan Bankruptcy Secured Lien. The Bankruptcy Court for the Northern District of OH said Wells Fargo Bank lacked standing to seek relief from the automatic stay in the filed Ch. 7 of Megan Rice. WFB appealed the decision to the 6th Circuit Appellate Panel. Debtor Rice had previously financed a Trailblazer. In turn, the security…