Monthly Archives: September 2021

Former NFL Players Plead Guilty to Healthcare Fraud

Clinton Portis was among three former National Football League players who have pleaded guilty for their roles in a nationwide scheme to defraud a healthcare program for retired NFL players, according to the U.S. Justice Department. Portis, a former running … Continue reading

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VW Reaches $42 Million Settlement with U.S. Owners over Takata Air Bags

Volkswagen’s U.S. unit has agreed to a $42 million settlement covering 1.35 million vehicles that were equipped with potentially dangerous Takata air bag inflators, according to documents filed in U.S. District Court in Miami. The settlement is the latest by … Continue reading

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Commercial Chapter 11 Filings Decrease 50 Percent in August from Last Year, Total Filings Down 18 Percent

Commercial chapter 11 filings decreased 50 percent in August 2021 from last year, according to data provided by Epiq Systems, Inc. The 264 commercial chapter 11 filings in August 2021 fell by exactly half from the 528 filings registered in … Continue reading

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Kansas Has the Third-Highest Amount of Farm Bankruptcies in the U.S.

Although farm insolvencies have declined nationally, Kansas is third highest in the nation for these bankruptcies. Beginning from June 2020 through June 2021, Kansas chapter 12 farm bankruptcies trailed only Wisconsin and Minnesota. According to the American Farm Bureau Federation, … Continue reading

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Report: 44 Percent of U.S. Small Businesses Have Less than 3 Months’ Worth of Cash

More than 18 months into the pandemic, bakery owner Letha Pugh is so low on cash that she’s afraid to spend it on anything other than paying her employees. She’s hardly alone: 44% of U.S. small businesses have less than … Continue reading

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Small business owners should see if they qualify for the home office deduction

Many Americans have been working from home due to the pandemic, and certain people will qualify to claim the home office deduction. Here are some things to help taxpayers understand the home office deduction and whether they can claim it: … Continue reading

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Most Expensive Home in America Defaults on $165 Million in Debt, Heads for Sale

 A Los Angeles megamansion once expected to list for $500 million has gone into receivership after the owner defaulted on more than $165 million in loans and debt, according to court filings. The 105,000-square foot Bel Air estate, known as … Continue reading

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All taxpayers have the right to challenge the IRS’s position and be heard

Taxpayers have the right to: • Raise objections.• Provide additional documentation in response to formal or proposed IRS actions.• Expect the IRS to consider their timely objections.• Have the IRS consider any supporting documentation promptly and fairly.• Receive a response … Continue reading

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Florida Man Convicted of COVID Relief Fraud

Florida man, Willie Curry, has been convicted of lying to get a low-interest COVID-19 relief loan. Curry pleaded guilty Monday in Miami federal court to wire fraud in connection with his fraudulent application to the U.S. Small Business Administration. He … Continue reading

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Oct. 15 deadline approaches for taxpayers who requested extensions to file 2020 tax returns

People who asked for an extension should file on or before the extension deadline, October 15, to avoid the penalty for filing late. There are a couple exceptions to this deadline including: Members of the military and others serving in … Continue reading

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