by Sandra Mertens | Feb 17, 2020 | GCK on Law
FBAR penalty litigation has frequently been in the news recently, suggesting that the IRS is either (i) increasing its efforts to collect and assess FBAR penalties more than ever before, or (ii) seeking successful outcomes from “test cases” before beginning a new wave...
by Sandra Mertens | Feb 10, 2020 | GCK on Law
On September 6, 2019, the IRS published the new “Relief Procedures for Certain Former Citizens” who wish to come into compliance with their U.S. income tax and reporting obligations without being taxed as a “covered expatriate” under section 877A of the U.S. Internal...
by Matthew Gensburg | Jan 22, 2020 | GCK on Law
Conversion is an unauthorized act which deprives a person of his property permanently or for an indefinite time. In re Thebus, 108 Ill.2d 255, 259 (1985). Accordingly, to prove conversion, the plaintiff must prove the following elements by preponderance of the...
by Matthew Gensburg | Jan 14, 2020 | GCK on Law
Section 362(k) of the Bankruptcy Code allows the award of damages for a stay violation only to “an individual injured by any willful violation of a stay.” This singular reference to “individuals” has given rise to a split among the courts with respect to whether...
by Matthew Gensburg | Jan 7, 2020 | GCK on Law
Section 546(a) of the Bankruptcy Code sets a two-year time limit for the commencement of avoidance actions on behalf of the bankruptcy estate. This provision was amended in 1994 to provide an additional year for such actions running from the date of the appointment...
by Matthew Gensburg | Dec 31, 2019 | GCK on Law
Bankruptcy Code Section 554(a) permits the trustee to abandon estate property upon a showing that it is either burdensome, or of an inconsequential value and benefit to the estate. Abandonment can also occur under Section 554(c) if property of the estate is properly...
