Wolff & Wolff Attorneys at Law

03/25/2025

The debt limits allowed for a Ch. 13 will increase on 04/01/2025. The limit is $526,700 for unsecured debt and $1,580,125 in secured debt. Contact us if you would like to schedule a free initial consultation. We file cases in the U.S. Bankruptcy Court, Eastern District of California (covers many Northern California counties, excluding the Bay Area).

03/25/2025

State of CA offers a property tax postponement program that gives homeowners who are seniors, blind, or disabled a deferment with a fee if requirements met. Must have at least 40% home equity and annual household income of $53,574 or less among other requirements. Applications available 09/2025.

Property Tax Postponement, ptp, timeline, filing SCO

03/25/2025

Sacramento County, CA homeowners' can file a property tax exemption form BOE-266 with the Sacramento County Assessor that can reduce your property tax bill a little bit. There is no fee to file this form.

Form BOE-266 on CAA e-Forms Service Center

03/25/2025

23andMe (actually 3 23andMe companies) filed for banrkuptcy on March 23, 2025. You may want to download your information, delete your information, etc. The State AG Rob Bonta has issued an urgent press release.

Californians have the right to direct the company to delete their genetic data OAKLAND — California Attorney General Rob Bonta today issued a consumer alert to customers of 23andMe, a genetic testing and information company. The California-based company has publicly reported that it is in financia...

05/07/2024

Debt limits for Ch. 13 bankruptcy may be lowered on 06/21/24. Contact us if you are thinking of filing a Ch. 13!

The current debt limit for a Ch. 13 is $2.75 million in total debt (unsecured and secured) expires on June 21, 2024, unless extended or made permanent by Congress. If this does not happen, the debt limits revert to the previous limits of $1,395,875 in secured debt and $465,275 for unsecured debt.

So, if a debtor has over the secured or unsecured debt limit, then the debtor would be forced to consider filing a Ch. 11 Sub V (used by small business owners) if the business wanted to continue operating. The Ch. 11 Sub V debt limit will also revert back on June 21st if not extended.

We believe the current limits are too low for a Ch. 13, especially if you own a small business. We hope that Congress will pass the debt extension.

02/17/2024

Considering a business or personal bankruptcy? Debt limit for a Ch. 13 and Ch. 11 Sub V may be reduced on 06/21/2024. If you have personally guraranteed a SBA EIDL that you can't repay, consult with us now. If the current debt limits for a Ch. 13 and Sub V are not made permanent or extended by Congress, then many debtors will be forced to file a Ch. 11 Sub V or a Ch. 11. Ch. 11s are more expensive than a Ch. 13 and require more work by the debtor.

02/02/2024

Hooray, Just received two opinions from the District Court (Eastern District of CA) REVERSING the bankruptcy Court's dismissal of 524(i) claims with prejudice and REVERSING bankruptcy Court's dismissal of Debtor's Motion For Contempt. 2:21-cv-01802 and 2:21-cv-1840.

01/29/2024

New IRS pilot free direct filing tax service for federal return for 12 states, including CA. See if you qualify.

The Direct File pilot adds another free option for eligible taxpayers to file a 2023 federal tax return.

01/23/2024

The CA Mortgage Relief Program adjusted its delinquency period from 08/01/2023 to 02/01/2024. If a borrower missed at least 2 mortgage payments or 1 property tax payment by 01/01/2024 and are currently behind, he/she MAY qualify for up to $80,000 in financial help.

An Update from the California Mortgage Relief Program Click here to view this email in your web browser Program Updates January 23, 2024 Issue No. 20 Program Update Makes More Homeowners Eligible For

12/06/2023

The Corporate Transparency Act requires form to be filed by many small corporations, LLCs, and other entities. The government is trying to catch small business money launderers. A law called the Corporate Transparency Act goes into effect 01/01/2024. The applicable entities established prior to January 1, 2024, have until January 1, 2025 to file the initial beneficial ownership information (BOI) form with the Financial Crimes Enforcement Network (FinCEN). Applicable businesses established after 01/01/2024 have a much shorter deadline to submit the form.

The submitted data can be accessed by the government - law enforcement, the IRS, other agencies, and financial services approved by the government.

The Act imposes a daily fine of $500 on anyone who provides false or fraudulent information within a BOI report, up to a $10,000 maximum. The same penalty applies for willfully failing to report or update a BOI report. The law also provides for a criminal penalty of up to 2 years of imprisonment.

Please contact your accountant or business attorney to see if she/he could prepare the form for your business if you need help.

INFORMATION: https://www.fincen.gov/boi

GUIDE: https://www.fincen.gov/boi/small-entity-compliance-guide

FAQS: https://www.fincen.gov/boi-faqs

SUBSCRIPTION: https://service.govdelivery.com/accounts/USFINCEN/subscriber/new

FinCEN has prepared the following Frequently Asked Questions (FAQs) in response to inquiries received relating to the Beneficial Ownership Information Reporting Rule.

11/30/2023

Shot in 1977 for a Sacramento Bee feature on the community of Elk Grove, the sign in this photo claims the population to be a “contented and progressive herd.” According to the feature, the contented herd didn’t seem to mind that “boundaries” was spelled wrong. In the background, we see the Elk Grove Cemetery at 8540 Elk Grove Boulevard. In 1977, Elk Grove was growing at an impressive rate. New homes and shopping centers seemed to be popping up all the time and Elk Grove Boulevard, the main thoroughfare, was widened the previous summer. Local business owner John Colton is quoted as saying, “I guess we’re growing because we’ve got a kind of Mr. Clean image – a commuter bedroom community that bigger city problems haven’t yet reached.” At the time, Elk Grove had a population of less than 9,000. Incorporated as a city in the year 2000, today’s population of Elk Grove is around 179,000 making it the second largest city in Sacramento County.

(Photograph by Skip Shuman, Sacramento Bee Collection, 1983/001/SBPM5140)

10/17/2023

A Chapter 11 Subchapter V is a newer type of bankruptcy for small businesses who want to keep operating. There are benefits of a Sub V case over the traditional small business case in a "regular Ch. 11" case. The increased debt limit for a Sub V of $7.5 million ends on June 21, 2024. Then, the debt limit cap goes back down to $2,725,625, unless Congress increases the amount. EIDL loans and commercial leases can defintely increase the amount of debt owed by a large amount. Consult with us if you are thinking that your business needs to reorganize to stay in business.