Luxury Company Roberto Cavalli Closes Its U.S. Stores

Struggling Italian fashion house Roberto Cavalli has stopped all North American operations. Headquartered in Florence, the company has lost most of its fan base in recent years, therefore struggling to make sales and maintain its competitive profile. A spokesman has said that the name of the brand’s North American subsidiary, Art Fashion Corporation, will liquidate under a bankruptcy filing with the United States.

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New York Church Members Plead Guilty to Conspiracy to Defraud the United States

Jermaine Grant and Lincoln Harrington pled guilty to one count of conspiracy to defraud the United States. The two were high-ranking officials of the Israelite Church of God and in Jesus Christ. They took nearly $3 million of the churches money and used it for real estate, vacations, a recreational vehicle, private school education for their children, as well as a chauffeur for them to and from school and other luxury goods.

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Tax Guide for Retirement Savings

Anyone with a traditional Individual Retirement Arrangement (IRA) may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15th, 2019.

An IRA is designed to enable employees and the self-employed to save for retirement. Most taxpayers who work are eligible to start a traditional or Roth IRA or add money to an existed account.

Contributions to a traditional IRA are usually tax deductible, and distributions are generally taxable. Taxpayers can file their return claiming a traditional IRA contribution before the contribution is actually made. It must then be made by April 15th of this year.

Contributions to Roth IRA’s are not tax deductible, however, the maximum permitted amount of these contributions begins to phase out for taxpayers whose modified adjusted gross income is above a certain level:

  • Those who are married filing jointly or qualifying widow(er), the level is $189,000.
  • For those who file as single, head of household, or married filing separately and did not live with their spouse at any time during the year, that level is $120,000.
  • Filers who are married filing separately and lived with their spouse at any time during the year, and amount of modified AGI reduces their contribution limit.

For Saver’s Credit the limits are:

  • $31,500 for single and married filing separate
  • $47,500 for head of household
  • $63,000 for married filing jointly

If you need tax help, call our law office at 816-524-4949 or visit our website at Hoorfarlaw.com

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St. Louis Attorney Accused of Sexually Assaulting a Client

Joseph Neill has been charged with sexually abusing a female client twice by placing her hand on his crotch over his pants. The attorney has been charged with second degree sexual assault which is a Class A misdemeanor.

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If you believe you have been harassed or have a personal injury claim, call our law office at 816-52-4949 or visit our website at Hoorfawlaw.com

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Goldman Sachs Fined $45 Million for Reporting Failures

The United Kingdom’s market watchdog has fined Goldman Sachs International £34.3 million pounds (45 million US) for failing accurate reporting of transactions for over a decade. The company resolved the case quickly in order to avoid a higher fine of £49 million pounds. Goldman Sachs is the 14th financial firm to be fined for transaction reporting failures under the European Union securities law known as MiFID.

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OxyCotin Maker Considers Bankruptcy

Purdue Pharma has been making billions by selling the prescription painkiller OxyCotin. The company is considering bankruptcy as one of its legal options as the first court date of hundreds approaches. The lawsuits are aimed at holding the company and the drug industry accountable for the United States opioid crisis.

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If you are thinking about filing for bankruptcy, call our law office at 816-524-4949 or visit our website at Hoorfarlaw.com

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Charlotte Russe Starts Liquidation

Retailer Charlotte Russe will close all of its stores and begin the liquidation process. Going out of business sales started March 7th and will run to around April 30th in store only. This announcement follows a chapter 11 bankruptcy filing in early February.

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If you are thinking about filing for bankruptcy call our law office at 816-524-4949 or visit our website at Hoorfarlaw.com

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FDA Confirms Asbestos in Claire’s Products

The FDA made a statement that they found asbestos in cosmetics sold by the retailer, Claire’s. They warned customers not to use the products. Claire’s filed chapter 11 bankruptcy last March and came out eliminating $1.9 billion in debt.

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If you are considering filing for bankruptcy, call our law office at 816-524-4949 or visit our website at Hoorfarlaw.com

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Jefferey Skilling Released After 12 Years in Jail

The former CEO of Enron was released from prison after 12 years. In 2006 he was charged with 12 counts of securities fraud, 5 counts of making false statements to auditors, 1 count of insider trading and 1 count of conspiracy.

Enron’s fall led to billions of investors’ money lost, and wiped out retirement savings and jobs of thousands of employees.

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Marijuana Business Owner Pleads Guilty to $3 Million in Unpaid Taxes

Andrew C. Poarch and his wife failed to pay the IRS about $3.1 million in taxes for the 2014, 2015 and 2016 tax years. The couple operated a club called the Lazy Lion in Colorado for 3 years selling marijuana on a cash-only basis to members.

The Lazy Lion

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