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E. COLLECTING TAXES FROM FEDERAL AGENCIES <br />With the closing of numerous banks and savings and loan associations in Texas by the <br />Federal Deposit Insurance Corporation and Resolution Trust Corporation, a new challenge <br />has arisen in the collection of delinquent property taxes. The enactment of the Financial <br />Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) by the United <br />States Congress significantly changed the law relating to the payment of taxes on property <br />owned by the FDIC and RTC in their capacity as receiver for an insolvent financial <br />institution. McCreary, Veselka, Bragg & Allen files claims, as required by FIRREA, <br />for current and delinquent taxes with the FDIC and RTC. We aggressively pursue all legal <br />remedies and take other practical measures to collect the taxes and accrued penalties and <br />interest due. Our Firm has vast experience in collecting taxes on property which has been <br />foreclosed upon by the FHA, VA, SBA, HUD and other Federal agencies. We are <br />successful in obtaining payment of all taxes, penalties and interest from these Federal <br />agencies. <br />McCreary, Veselka, Bragg & Allen <br />18 <br />