May, 2017

Associations Should Amend Governing Documents to be Better Prepared for Next Economic Downturn

May 26th, 2017

Posted in Condominium & Homeowner Association Law

Community associations experienced a record number of delinquencies during the economic recession that began in 2007-2008.  As a result, associations were forced to dedicate most of their resources to the collection of delinquent assessments.  Community associations were also severally impacted by the mortgage foreclosure crisis.  The increased amount of cases created a traffic jam for courts resulting in prolonged foreclosures, which decreased the associations’ chances of recovering all the past due amounts.      
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IRS Collection Due Process

May 12th, 2017

Posted in IRS & Tax Information

Taxpayers should know that the IRS cannot typically levy your assets without first giving you notice.  There are a few exceptions to this general rule, however.  For instance, the IRS may levy without prior notice if it feels collection of the tax is in jeopardy or when the IRS levies a state tax refund.  Absent an exception, the IRS will typically provide a formal Notice of Intent to Levy prior to levying any of a taxpayer’s assets.
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