Tag Archives: KansasCity

Should My Business Be Considering Chapter 11 Bankruptcy During the Pandemic?

As a Bankruptcy Lawyer here in Kansas City I am often being asked by potential clients “should my business be considering Chapter 11 Bankruptcy during these very difficult times?”  As one who has practiced in this area of the law since the 1980’s there are several basic guidelines any business owner should use to decide whether a consultation with a bankruptcy attorney is needed, even in good economic times.  Given the Pandemic and disruption to the business cycle, however, this is now a good time for many businesses to evaluate whether these factors apply to its situation today.  Below are among the most important indicators of whether Chapter 11 can be of help.    Is the collateral pledged by your business toward its Bank Loan now worth less than the amount owed?  This is a factor in most every business Chapter 11, however, it is especially relevant now.  For example, if…
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COVID Financial Relief for Kansas and Missouri Residents

Vaccines for COVID-19 are finally on the horizon. Unfortunately for millions of people, the vaccine will not mean relief from a crushing financial crisis. Many Kansas and Missouri residents are still out of work. This trend may continue in the near future. If you are out of work and are facing a difficult situation, there are some financial relief programs you may qualify for in Kansas or Missouri. Financial Relief for Evictions and Utilities Depending on where you live, you may have access to resources that can help prevent eviction. Kansas has the Kansas Eviction Prevention Program, also called KEPP. Unfortunately, your deadline to apply for this program, if you were eligible, was December 15.  However, the Kansas City Housing Corporation says on its website that KEPP funding might be renewed for 2021 depending on the actions of state and federal lawmakers.  There are multiple eviction prevention and bill pay…
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IRS Free File Available Until October 15

We have good news if you still have to file taxes for 2019. If you meet the necessary eligibility requirements, you can still file your taxes for free until October 15.  The IRS partners with multiple tax filing services that offer free filing options. Free file services that are partnered with the IRS were enormously popular in 2020. In fact, usage of free filing services increased by 50% since 2019. Below, we discuss what to know about the services and their various eligibility requirements.  IRS Free File Eligibility If you made $69,000 or less in 2019, then you can visit the IRS’ website to choose from one of the various free filing services. TurboTax, TaxSlayer and H&R Block are some of the more well-known free file services currently partnered with the IRS. Many services are available in English and Spanish. You can receive a more comprehensive list by clicking this…
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