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Section 108 of the Internal Revenue Code Relief of Indebtedness Income and Workouts

Submitted by Anonymous (not verified) on Wed, 02/12/2020 - 00:10

Section 108 of the Internal Revenue Code Relief of Indebtedness Income and WorkoutsOne of the most overlooked areas of the law when doing a workout is Section 108 of the Internal Revenue Code (“IRC”). Section 108 is a trap for the unwary and unless the attorney or lawyer is aware of this tax code section, it can upend a workout or result in a taxpayer having to recognize, report, or pickup unknowingly a significant amount of taxable income. This could ruin the attorney-client relationship or worse yet a malpractice lawsuit by the client against the attorney.

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I Paid Off My Student Loans Early, and I Regret It

Submitted by Anonymous (not verified) on Fri, 01/31/2020 - 23:31

By: Christy Bieber
From: The Motley Fool
https://www.fool.com/student-loans/paid-off-student-loans-early/

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How Uber and Lyft doomed NYC's yellow cab business - New York Daily News

Submitted by Anonymous (not verified) on Fri, 01/31/2020 - 06:29

Driving NYC taxis out of business: How Uber and Lyft doomed the once-solid yellow cab industryBy: Clayton GuseFrom: nydailynews.comhttps://www.nydailynews.com/new-york/ny-medallion-foreclosures-taxi-bailout-plan-uber-lyft-20200130-s2mjkhjubzgptdxasoxddwdote-story.html

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Myth Busted: Turns Out Bankruptcy Can Wipe Out Student Loan Debt After All

Submitted by Anonymous (not verified) on Wed, 01/22/2020 - 22:12

From: wamc.org
By: Chris Arnold
https://www.wamc.org/post/myth-busted-turns-out-bankruptcy-can-wipe-out-student-loan-debt-after-all

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Organizing at Work

Submitted by Anonymous (not verified) on Sun, 01/19/2020 - 05:57

This week we heard from Dan Loya at Spaces Transformed. Dan gave a talk and a couple of comments that I had on this important topic are below:

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Bailout Up to $500 Million Proposed for Taxi Drivers Trapped in Loans New York Times 1/16/20

Submitted by Anonymous (not verified) on Thu, 01/16/2020 - 20:39

Bailout Up to $500 Million Proposed for Taxi Drivers Trapped in Loans

The proposal is the most far-reaching step taken in response to a Times investigation into exploitative practices in the industry.

New York Times Article
Bailout Up to $500 Million Proposed for Taxi Drivers

A high-level New York City panel appointed by Mayor Bill de Blasio and other officials intends to propose a bailout for thousands of taxi drivers trapped in exploitative loans that could cost as much as $500 million, several panel members said this week.