Bankruptcy

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Same-Sex Marriage and Bankruptcy

By | September 13th, 2011|Categories: Same-Sex Marriage and Taxes, State Taxes|Tags: , , , , |

Professor Pat Cain has posted a few notes about bankruptcy and same-sex married couples (emphasis mine). A couple of months ago a federal Bankruptcy Court in Central California ruled DOMA unconstitutional as applied to joint filings in bankruptcy. The case is In re Balas. As a result of that case, and the administration’s stance that DOMA [...]

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How to Report Home Foreclosures

By | April 27th, 2010|Categories: Potpourri of Tax Topics|Tags: , , |

One of the unfortunate side effects of the recession is that many people have suffered a foreclosure. I have had clients asking me about the tax consequences of a foreclosure, and worrying about how that will affect their taxes. The good news for homeowners is that they do not have to pay tax on any debt [...]

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