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Dischargeability of FTB -- debt poorly scheduled
Renay, from having recently researched this issue, it's my understanding
that an income tax lien attaches to ALL property and there are no
exemptions. With respect to personal property, the tax lien is secured to
the extent of the value of what the debtor has listed in Schedule B as of
the date of filing.
Holly Roark
CDCA
holly@roarklawoffices.com
On Thu, Apr 28, 2011 at 5:45 AM, R Grace Rodriguez wrote:
>
>
> For what its worth....I've made the mistake of listing non-priority
> unsecured debt in schedule E as well. Then had FTB come back and say its
> not dischargeable, argued with them that it was included in the Chapter 7
> and even though listed in E, it is actually unsecured and they relented. So
> just double check with them to make sure its cleared off their books.
>
> Also, from the school of hard knocks.....It really is worthwhile to order a
> tax transcript for some of these debtors who say they owe taxes and how
> much. The transcripts beautifully lay out each year, with the activity,
> what is owed and when the tax return is filed. It makes it so much easier
> to schedule the taxes.
>
> There is only one of many small thing I still don't understand but correct
> me if this is wrong..... If there is a tax lien that has been filed and
> recorded, does it apply to all of debtors property whether or not exempt or
> does it apply only to the unexempt property. If there is unexempt property
> the IRS would have a lien in an amount equal to the unexempt and they would
> have to be paid back?
>
> Thanks
> Renay
>
>
> On Wed, Apr 27, 2011 at 12:15 PM, Hank Paloci wrote:
>
>>
>>
>> Debtor's Schedule E contains a debt to FTB for 39k for "2006 and 2007 tax
>> debt" and all 39k is scheduled as "amount entitled to priority." If I had
>> done it I would have put -0- as the amount entitled to priority, or just put
>> it on Schedule F. The tax returns were timely filed and this debt "should"
>> be dischargeable. Is this Debtor going to be stuck with the debt or will FTB
>> write it off automatically?
>>
>> This is a no-asset Chapter 7 case and no claims were filed.
>>
>> Can this case be reopened and the schedules amended? Does that seem
>> necessary to anyone?
>>
>> Help appreciated.
>>
>> Henry Paloci, Esq.
>> 888.777.2404
>>
>>
>
>
> --
> R. Grace Rodriguez, Esq.
> OFF: (818) 734-7223
> CEL: (818) 554-9922
>
> NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice
> for ex parte Applications via voicemail or by email. You must comply with
> California Law and give notice to a person in my office during regular
> business hours.
>
> CONFIDENTIALITY STATEMENT: This message contains privileged and
> confidential information and is intended only for the individual named. If
> you are not the intended recipient you should not disseminate, distribute,
> store, print, copy or deliver this message. Please notify the sender
> immediately by e-mail if you have received this e-mail by mistake and delete
> this e-mail from your system.
>
>
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
Renay, from having recently researched this issue, it's my understanding that an income tax lien attaches to ALL property and there are no exemptions. With respect to personal property, the tax lien is secured to the extent of the value of what the debtor has listed in Schedule B as of the date of filing.
Holly RoarkCDCAholly@roarklawoffices.comOn Thu, Apr 28, 2011 at 5:45 AM, R Grace Rodriguez <rgracelaw@gmail.com> wrote:
For what its worth....I've made the mistake of listing non-priority unsecured debt in schedule E as well. Then had FTB come back and say its not dischargeable, argued with them that it was included in the Chapter 7 and even though listed in E, it is actually unsecured and they relented. So just double check with them to make sure its cleared off their books.
Also, from the school of hard knocks.....It really is worthwhile to order a tax transcript for some of these debtors who say they owe taxes and how much. The transcripts beautifully lay out each year, with the activity, what is owed and when the tax return is filed. It makes it so much easier to schedule the taxes.
There is only one of many small thing I still don't understand but correct me if this is wrong..... If there is a tax lien that has been filed and recorded, does it apply to all of debtors property whether or not exempt or does it apply only to the unexempt property. If there is unexempt property the IRS would have a lien in an amount equal to the unexempt and they would have to be paid back?
ThanksRenayOn Wed, Apr 27, 2011 at 12:15 PM, Hank Paloci <paloci66@yahoo.com> wrote:
Debtor's Schedule E contains a debt to FTB for 39k for "2006 and 2007 tax debt" and all 39k is scheduled as "amount entitled to priority." If I had done it I would have put -0- as the amount entitled to priority, or just put it on Schedule F. The tax returns were timely filed and this debt "should" be dischargeable. Is this Debtor going to be stuck with the debt or will FTB write it off automatically?
This is a no-asset Chapter 7 case and no claims were filed.
Can this case be reopened and the schedules amended? Does that seem necessary to anyone?
Help appreciated.
Henry Paloci, Esq.
888.777.2404
-- R. Grace Rodriguez, Esq.OFF: (818) 734-7223CEL: (818) 554-9922
NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice for ex parte Applications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
CONFIDENTIALITY STATEMENT: This message contains privileged and confidential information and is intended only for the individual named. If you are not the intended recipient you should not disseminate, distribute, store, print, copy or deliver this message. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system.
-- Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
The post was migrated from Yahoo.
For what its worth....I've made the mistake of listing non-priority
unsecured debt in schedule E as well. Then had FTB come back and say its
not dischargeable, argued with them that it was included in the Chapter 7
and even though listed in E, it is actually unsecured and they relented. So
just double check with them to make sure its cleared off their books.
Also, from the school of hard knocks.....It really is worthwhile to order a
tax transcript for some of these debtors who say they owe taxes and how
much. The transcripts beautifully lay out each year, with the activity,
what is owed and when the tax return is filed. It makes it so much easier
to schedule the taxes.
There is only one of many small thing I still don't understand but correct
me if this is wrong..... If there is a tax lien that has been filed and
recorded, does it apply to all of debtors property whether or not exempt or
does it apply only to the unexempt property. If there is unexempt property
the IRS would have a lien in an amount equal to the unexempt and they would
have to be paid back?
Thanks
Renay
On Wed, Apr 27, 2011 at 12:15 PM, Hank Paloci wrote:
>
>
> Debtor's Schedule E contains a debt to FTB for 39k for "2006 and 2007 tax
> debt" and all 39k is scheduled as "amount entitled to priority." If I had
> done it I would have put -0- as the amount entitled to priority, or just put
> it on Schedule F. The tax returns were timely filed and this debt "should"
> be dischargeable. Is this Debtor going to be stuck with the debt or will FTB
> write it off automatically?
>
> This is a no-asset Chapter 7 case and no claims were filed.
>
> Can this case be reopened and the schedules amended? Does that seem
> necessary to anyone?
>
> Help appreciated.
>
> Henry Paloci, Esq.
> 888.777.2404
>
>
>
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (818) 554-9922
NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice
for ex parte Applications via voicemail or by email. You must comply with
California Law and give notice to a person in my office during regular
business hours.
CONFIDENTIALITY STATEMENT: This message contains privileged and
confidential information and is intended only for the individual named. If
you are not the intended recipient you should not disseminate, distribute,
store, print, copy or deliver this message. Please notify the sender
immediately by e-mail if you have received this e-mail by mistake and delete
this e-mail from your system.
For what its worth....I've made the mistake of listing non-priority unsecured debt in schedule E as well. Then had FTB come back and say its not dischargeable, argued with them that it was included in the Chapter 7 and even though listed in E, it is actually unsecured and they relented. So just double check with them to make sure its cleared off their books.
Also, from the school of hard knocks.....It really is worthwhile to order a tax transcript for some of these debtors who say they owe taxes and how much. The transcripts beautifully lay out each year, with the activity, what is owed and when the tax return is filed. It makes it so much easier to schedule the taxes.
There is only one of many small thing I still don't understand but correct me if this is wrong..... If there is a tax lien that has been filed and recorded, does it apply to all of debtors property whether or not exempt or does it apply only to the unexempt property. If there is unexempt property the IRS would have a lien in an amount equal to the unexempt and they would have to be paid back?
ThanksRenayOn Wed, Apr 27, 2011 at 12:15 PM, Hank Paloci <paloci66@yahoo.com> wrote:
Debtor's Schedule E contains a debt to FTB for 39k for "2006 and 2007 tax debt" and all 39k is scheduled as "amount entitled to priority." If I had done it I would have put -0- as the amount entitled to priority, or just put it on Schedule F. The tax returns were timely filed and this debt "should" be dischargeable. Is this Debtor going to be stuck with the debt or will FTB write it off automatically?
This is a no-asset Chapter 7 case and no claims were filed.
Can this case be reopened and the schedules amended? Does that seem necessary to anyone?
Help appreciated.
Henry Paloci, Esq.
888.777.2404
-- R. Grace Rodriguez, Esq.OFF: (818) 734-7223CEL: (818) 554-9922NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice for ex parte Applications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
CONFIDENTIALITY STATEMENT: This message contains privileged and confidential information and is intended only for the individual named. If you are not the intended recipient you should not disseminate, distribute, store, print, copy or deliver this message. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system.
The post was migrated from Yahoo.
lots of debtors make this mistake all the time. FTB will independently decide if the tax is dischargeable (which means, if it is dischargeable, they will wipe it off the books) The risk is the last test, did the debtor do anything to evade or defeat the tax. Clerk gets to decide if you do not sue to determine dischargeability. However, don't fret, in standard circumstances, these taxes are wiped.
d
The post was migrated from Yahoo.
Debtor's Schedule E contains a debt to FTB for 39k for "2006 and 2007 tax debt" and all 39k is scheduled as "amount entitled to priority." If I had done it I would have put -0- as the amount entitled to priority, or just put it on Schedule F. The tax returns were timely filed and this debt "should" be dischargeable. Is this Debtor going to be stuck with the debt or will FTB write it off automatically?
This is a no-asset Chapter 7 case and no claims were filed.
Can this case be reopened and the schedules amended? Does that seem necessary to anyone?
Help appreciated.
Henry Paloci, Esq.
888.777.2404
The post was migrated from Yahoo.