Law Change Affects Moving, Mileage and Travel Expenses; Offers Higher Depreciation Limits for Some Vehicles

IRS provided information to taxpayers and employers about changes from the Tax Cuts and Jobs Act that affect:

Move related vehicle expenses Un-reimbursed employee expenses Vehicle expensing

Changes to the deduction for move-related vehicle expenses

The Tax Cuts and Jobs Act suspends the deduction for moving expenses for tax years beginning after Dec. 31, . . . → Read More: Law Change Affects Moving, Mileage and Travel Expenses; Offers Higher Depreciation Limits for Some Vehicles

Tax Reform: Changes to Depreciation Affect Businesses Now

IRS reminds businesses that passage of the Tax Cuts and Jobs Act may affect their depreciation deductions and taxes. Business taxpayers can generally depreciate tangible property except land, including buildings, machinery, vehicles, furniture and equipment.

Changes to depreciation and how they will affect businesses may include:

Businesses can immediately expense more under the new . . . → Read More: Tax Reform: Changes to Depreciation Affect Businesses Now

Combat Zone Tax Benefits Now Available to Armed Forces Members Who Served in the Sinai Peninsula; IRS Accepting Retroactive Tax Refund Claims Back to 2015

April 13, 2018

Under the Tax Cuts and Jobs Act (TCJA) enacted in December 2017, members of the U.S. Army/Navy/Marines/Air Force/Coast Guard who performed services in the Sinai Peninsula of Egypt can claim combat zone tax benefits retroactive to June 2015. Eligible service members should review Publication 3, Armed Forces’ Tax Guide, available on . . . → Read More: Combat Zone Tax Benefits Now Available to Armed Forces Members Who Served in the Sinai Peninsula; IRS Accepting Retroactive Tax Refund Claims Back to 2015

Taxpayers Should Report Name Changes Before Filing Taxes

When a taxpayer changes their name, that change can affect their taxes. All the names on a taxpayer’s tax return must match Social Security Administration records. A name mismatch can delay a tax refund. Here’s what a taxpayer should do if anyone listed on their tax return changed their name:

Reporting Taxpayer’s Name Change. . . . → Read More: Taxpayers Should Report Name Changes Before Filing Taxes

Special Counsel and Chapter 13 Bankruptcy

By Scott G. Stout and Wayne P. Novick

So, you think the Bankruptcy Code does not impact your practice. Think again. Bankruptcy is one area of the law that can reach far and wide and can impact numerous other areas of law. The most important question you can ask your client is: “Are you . . . → Read More: Special Counsel and Chapter 13 Bankruptcy

Fond Adieu to Beloved Trustee

It is with great affection that we say good-bye to retiring Chapter 13 Standing Trustee Jeffrey Sapir. Trustee Sapir has been in private practice concentrating on bankruptcy for over 50 years.

Besides being in private practice, Sapir has been the Chapter 13 Trustee for the Southern District of New York covering the courts in . . . → Read More: Fond Adieu to Beloved Trustee

Slavery and Bankruptcy in America

By Professor Rafael I. Pardo, Robert T. Thompson Professor of Law, Emory Law (Atlanta, GA)

Summary/Commentary

By Phil Lamos, Chief Legal Counsel, Office of the Chapter 13 Trustee Lauren A. Helbling (Cleveland, OH)

Slavery and Bankruptcy in America – Summary

Professor Rafael Pardo has written an extensive and fascinating article to be . . . → Read More: Slavery and Bankruptcy in America

Meet the New Trustee

Melissa J. Davey was appointed a Chapter 13 Trustee in the Northern District of Georgia for the Atlanta and Newnan divisions effective October 1, 2017. Her office administers approximately 9,000 Chapter 13 cases assigned to Judge W. Homer Drake, Judge Paul M. Baisier and Judge Lisa Ritchey Craig.

Prior to her appointment, she was . . . → Read More: Meet the New Trustee

Welcome New Trustee

Lauren A. Helbling comes to the Chapter 13 world from private practice where she served as a Chapter 7 panel trustee. Helbling was appointed as a Chapter 13 Standing Trustee for the Northern District of Ohio on October 1, 2017. Helbling was appointed subsequent to the retirement of Craig Shopneck who served the Cleveland . . . → Read More: Welcome New Trustee

CFPB Issues Interim Final Rule To Help Mortgage Servicers Communicate With Certain Borrowers At Risk Of Foreclosure

Bureau Also Seeks Comment on Separate Proposed Rule Modifying Timing Requirements for Bankruptcy Periodic Statements

FOR IMMEDIATE RELEASE: October 4, 2017

The CFPB issued an interim final rule and a proposed rule to provide mortgage servicers more flexibility and certainty around requirements to communicate with certain borrowers under the Bureau’s 2016 mortgage servicing . . . → Read More: CFPB Issues Interim Final Rule To Help Mortgage Servicers Communicate With Certain Borrowers At Risk Of Foreclosure