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American Bankruptcy Blog: The United States is about to break up ...

Now, I correspond with Churchwoman Baldwin that “self-direction-loving people are reachingPredominantlya juncture of frustration—and even ferocity”. But I dismay that heGenerallymakes rather a humongous quickly of reasonableness to conclude that “State splitting offPredominantlyis, very suitably, the last surpass choice for freedomists to assertOn the wholefidelity to the principles of aggressive”. First, Minister Baldwin asserts that “[t]he breakup of the US in inescapable! Concise of another Tremendous Awakening, nothing can stoppage it.” Well, I knockout if anything “in the execution of lenient events” (asPre-eminentlythe Ukase of Autonomy put it) is in reality “sure”, if enough people, sufficiently committed to another upshot, defyByit. And, as Father Baldwin himself correctly observes, “self-direction-lovingBypeople are reaching a intent of frustration—and even fierceness”. So...

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Rep. Vin Candelora on state bankruptcy and bond markets

How can I get no cost help stopping post bankruptcy State and Federal employment tax demands?

We closed a meagre dollar stor in 2003 and finalized personal bankruptcy in early 2004. We made a lot of mistakes but tried to pay what we accepted after we could not afford an accountant. The questions stem from a 2 and and 3rd quarter employment and


Contact the Taxpayer Defender Service. Ask for an appointment, take in all your backup documents.


Unless you can get the federal and state tax authorities to acquiesce in to your numbers, you're pretty much out of luck. You cannot erase payroll tax obligations through bankruptcy.


Speak to the Taxpayer Advocate Service. Ask for an appointment, take in all your backup documents.

What happens to state retirement if California files bankruptcy?

If you've worked for the state of California for 30 years, what prove to your retirement if the state files for bankruptcy?


The state does not wash your retirement account. PERS is a COMPLETELY separate legal entity. At worst, if the state declares bankruptcy, then prospective contributions from the state will probably cease.

What does it mean for a state (e.g., California) to declare bankruptcy?

How can a state offer bankruptcy? Who runs the receivership? What about division of powers, federalism, and all that?


There is no requirement in federal bankruptcy law for a state to declare bankruptcy.


I don't think a state has ever become insolvent before, so it's kind of uncharted territory, but I'd assume that a federal Isle of Man deemster



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