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Question regarding taxes in asset Ch 7
Yes.
Debtor isn't getting a discharge of the priority taxes, so is liable for them until they are paid off in full. It's too bad that the debtor has no control over the payment of these liabilities.
One suggestion: file an amended proof of claim on behalf of the tax authorities showing the penalties and interest, or call the taxing authorities and ask for an updated proof of claim.
On Tuesday, September 16, 2014 11:19 AM, "Larry Simons larry@lsimonslaw.com [cdcbaa]" wrote:
IRS and FTB file a claim, trustee recovers sufficient monies to pay priority taxes in full. However, the debtor has received notices that penalties and interest have continued to accrue while the trustee was administering assets. Fast forward. No amended claims filed. Question is will the debtor be liable for the difference to the taxing authorities between the POC amount and the amount
currently owing due to the increased penalties and interest?
Larry Simons
Sent from my iPhone
On Sep 16, 2014, at 8:54 AM, "John Faucher j.d.faucher@sbcglobal.net [cdcbaa]" wrote:
>Reject the executory contract?
>
>
>
>On Tuesday, September 16, 2014 8:40 AM, "Nathan Berneman nathanberneman@yahoo.com [cdcbaa]" wrote:
>
>
>
>
>Client has a timeshare paid in full. Is there any way to get rid of the monthly/yearly maintenance fees as she doesn't even want the timeshare any more?
>
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>Thank you,
>
>
>Nate Berneman
>
>
The post was migrated from Yahoo.
Debtor is on the hook.
Mark jessee
Sent from my iPhone
> On Sep 16, 2014, at 1:19 PM, "Larry Simons larry@lsimonslaw.com [cdcbaa]" wrote:
>
> IRS and FTB file a claim, trustee recovers sufficient monies to pay priority taxes in full. However, the debtor has received notices that penalties and interest have continued to accrue while the trustee was administering assets. Fast forward. No amended claims filed. Question is will the debtor be liable for the difference to the taxing authorities between the POC amount and the amount
> currently owing due to the increased penalties and interest?
>
> Larry Simons
> Sent from my iPhone
>
> On Sep 16, 2014, at 8:54 AM, "John Faucher j.d.faucher@sbcglobal.net [cdcbaa]" wrote:
>
>>
>> Reject the executory contract?
>>
>>
>> On Tuesday, September 16, 2014 8:40 AM, "Nathan Berneman nathanberneman@yahoo.com [cdcbaa]" wrote:
>>
>>
>>
>> Client has a timeshare paid in full. Is there any way to get rid of the monthly/yearly maintenance fees as she doesn't even want the timeshare any more?
>>
>> Thank you,
>>
>> Nate Berneman
>
>
The post was migrated from Yahoo.
IRS and FTB file a claim, trustee recovers sufficient monies to pay priority taxes in full. However, the debtor has received notices that penalties and interest have continued to accrue while the trustee was administering assets. Fast forward. No amended claims filed. Question is will the debtor be liable for the difference to the taxing authorities between the POC amount and the amount
currently owing due to the increased penalties and interest?
Larry Simons
Sent from my iPhone
On Sep 16, 2014, at 8:54 AM, "John Faucher j.d.faucher@sbcglobal.net [cdcbaa]" wrote:
Reject the executory contract?
On Tuesday, September 16, 2014 8:40 AM, "Nathan Berneman nathanberneman@yahoo.com [cdcbaa]" wrote:
Client has a timeshare paid in full. Is there any way to get rid of the monthly/yearly maintenance fees as she doesn't even want the timeshare any more?
Thank you,
Nate Berneman
IRS and FTB file a claim, trustee recovers sufficient monies to pay priority taxes in full. However, the debtor has received notices that penalties and interest have continued to accrue while the trustee was administering assets. Fast forward. No amended
claims filed. Question is will the debtor be liable for the difference to the taxing authorities between the POC amount and the amount
currently owing due to the increased penalties and interest?
Larry Simons
Sent from my iPhone
On Sep 16, 2014, at 8:54 AM, "John Faucher
j.d.faucher@sbcglobal.net [cdcbaa]" <cdcbaa@yahoogroups.com> wrote:
The post was migrated from Yahoo.