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Author Archives: Camron Hoorfar
Bitcoin Plunges as Major Crypto Lender Halts Operations
The price of bitcoin and other cryptocurrencies plummeted Monday after a major cryptocurrency lender effectively failed and halted all withdrawals from its platform, citing “extreme market conditions.” It’s the latest high-profile collapse of a pillar of the cryptocurrency industry. These … Continue reading
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Evidence Obtained by Deception Okay
The delay from charges to trial did not reach the threshold of a presumptive violation of the right to a speedy trial, so no further analysis of other factors was necessary, and circuit court did not err in denying defendant’s … Continue reading
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Things organizations should know about applying for tax-exempt status
To be tax-exempt under Section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for any of these purposes: charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, … Continue reading
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IRS increases standard mileage reimbursement rate for personal vehicles effective July 1
The Internal Revenue Service has announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business … Continue reading
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Surfside Condo Collapse Victims Reach $997 Million Settlement
Families of the victims of the collapse of the Champlain Towers South condominium in Surfside, Fla., that killed 98 people last year have reached a $997 million settlement to compensate them for their staggering losses of life. If you or … Continue reading
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ACA Payments Get Priority in Bankruptcy, Appeals Court Rules
A federal appeals court recently ruled that payments individuals owe to the Internal Revenue Service for failing to obtain health insurance under the Affordable Care Act should be given priority in bankruptcy. If you need tax assistance or are considering … Continue reading
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Understanding taxpayer rights: The right to appeal an IRS decision in an independent forum
Taxpayers have the right to appeal an IRS decision in an independent forum. This is one of ten basic rights — known collectively as the Taxpayer Bill of Rights — that all taxpayers have when working with the IRS. The … Continue reading
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Bankruptcy Didn’t Block Contempt Proceedings in District Court Against a Debtor
A chapter 7 petition filed by the contemnor (a party held in contempt of court) did not bar the district court from moving ahead with contempt proceeds against the debtor for disobeying the district court’s prior orders compelling the debtor … Continue reading
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Alabama Man Ordered to Pay $12M, Serve 15 Years for Fraud
An Alabama man who pleaded guilty to using bank fraud to live a lavish lifestyle that involved owning a private jet and high-end cars like Lamborghinis and Ferraris was sentenced to 15 years in prison and ordered to pay $12 … Continue reading
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Coinbase Warns Customers They Could Lose Their Crypto if the Company Goes Bankrupt
Coinbase has warned users that their cryptocurrency could be at risk if the exchange ever went bankrupt. The cryptocurrency exchange included a new disclosure to its customers in its first-quarter earnings report. “Because custodially held crypto assets may be considered … Continue reading
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