Case Analysis

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Municipal BK
June 24, 2011

Municipal Bankruptcy Protection ??

See Timothy Hippa 2009: In difficult economic times, the demands for municipal services increase while revenues from declining property values or decreasing sales tax diminish. For some municipalities or units of local government, the lack of adequate revenues may create a financial disaster. In such a case, a municipality may…
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Municipal/Local Government Debt
May 16, 2011

Insolvent Government

The Federal government is going more broke than ever. In the meantime, in 2008, it successfully saved many large businesses from going broke. States are more broke than ever: Illinois, California, Rhode Island the worse among them. Municipalities and smaller arms of government form the next wave of government going…
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Profile of Trouble
April 8, 2011

Profile of Troubled Entity

If a company or public entity has some of the following troubles, then it's time to contact our staff: Federal tax liens State, local, special district liens Secured lender problems Bank demands Bondholder lawsuits Municipal/Special District underfunded debt Local government tax problems Commercial litigation Government litigation Sheriff sales of assets…
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Local Governments and Special Districts
February 22, 2011

Municipal Bonds

Municipal Bonds (“Muni bonds”) are financial instruments used by communities to pay for public purposes such as necessary government services and desirable community facilities. For example, as a community, we vote for necessary subdivisions of local government to provide for roads, water and sanitation, schools, police and fire protection districts,…
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IRS Seizures
February 6, 2011

IRS LIEN AND IRS LEVY – CHARITABLE ORGANIZATIONS

A not-for-profit charitable organization which had failed to pay over its withholding taxes was seized by the IRS. Charitable donations plummeted. The services provided by the organization diminished and the needs of the poor who relied on such services could not immediately be attenuated. Reliance on donations is difficult. Alienation…
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IRS Seizures
January 21, 2011

IRS Lien and IRS Levy – Seizure of Accounts Receivable

IRS can really mess up business relationships AND seize your money when they go after your accounts receivable. Hooboy, you’ve sold goods or services to a customer of yours, and then the customer gets a notice from the IRS ordering the customer NOT to pay your invoice, instead ordering the…
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IRS Seizures
January 21, 2011

IRS Lien and IRS Levy – Seizure of a Business

After a Notice of Federal Tax Lien has been recorded, the IRS has the legal authority to come onto the premises of your business to seize assets ONLY by two methods: 1.      A court order called a Writ of Entry; 2.      Your consent. Once the IRS is legally on the…
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IRS Seizures
January 21, 2011

IRS Lien and IRS Levy – Seizure of Bank Accounts

The IRS can seize your bank accounts by, first, filing and recording a Notice of Federal Tax Lien , then second, serving a Notice of Intent To Levy to the bank where your money resides. You would have received notice that this was about to happen in most cases. When…
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