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Unpaid Taxes IRS
Better question...Anyone not using best car!
Jonathan Leventhal, Esq.
Leventhal Law Group, P.C.
818-347-5800
To: "cdcbaa@yahoogroups.com"
Sent: 02/27/2012 12:50 PM
Subject: [cdcbaa] Unpaid Taxes IRS
Anyone using BestCase?
I have a tax lien filed against my client for 28,628.66 for taxes assessed 6/20/2008 and prior. Debtor's schedule B reports $7,170.00 in assets. Has no Schedule A assets. It is my reading that the IRS is entitled to get paid the SECURED claim amount EQUAL to his assets regardless of exemption.
Do I put that Secured claim on Schedule D? Also the IRS Manual says that interest will be paid on it the secured claim amount at the amount set forth at
IRC 6621. But those interest rates are set up quarterly. His taxes cover 2003, 2005 & 2006. Which interest rate would I use.
I can't figure out how to input this into the software so debtor will pay the right amount of interest? I can list it on schedule D but it comes out strange because then how do I characterize this. Would someone be willing to call me on my cell phone?
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (818) 554-9922
Better question...Anyone not using best car!
Jonathan Leventhal, Esq.
Leventhal Law Group, P.C.
818-347-5800
To: "cdcbaa@yahoogroups.com" <cdcbaa@yahoogroups.com>
Sent: 02/27/2012 12:50 PM
Subject: [cdcbaa] Unpaid Taxes IRS
Anyone using BestCase?
I have a tax lien filed against my client for 28,628.66 for taxes assessed 6/20/2008 and prior. Debtor's schedule B reports $7,170.00 in assets. Has no Schedule A assets. It is my reading that the IRS is entitled to get paid the SECURED claim amount EQUAL
to his assets regardless of exemption.
Do I put that Secured claim on Schedule D? Also the IRS Manual says that interest will be paid on it the secured claim amount at the amount set forth at
IRC 6621. But those interest rates are set up quarterly. His taxes cover 2003, 2005 & 2006. Which interest rate would I use.
I can't figure out how to input this into the software so debtor will pay the right amount of interest? I can list it on schedule D but it comes out strange because then how do I characterize this. Would someone be willing to call me on my cell phone?
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (818) 554-9922
The post was migrated from Yahoo.
http://www.irs.gov/irm/part5/irm_05-009-010.html#d0e334
I was studying that web-site as well.
Renay.
The post was migrated from Yahoo.
Let me see if I can be clearer:
Debtor purportedly did not file 2003, 2005 & 2006. IRS assessed in June
2008 and recorded a lien on the amount owed of $28,000.00. When IRS filed
proof of claim these amounts were not listed as priority but rather were
listed as "secured" claims.
So I figure like Mark J said put on schedule D and pay the personal
property value of $7,170.00 over the five years of the plan at 3%. So then
the question is if he never files those returns and accepts the assessment
as the balance of $21K or like Mr. Markus said below, the obligation would
remain.... would there still be a lien on the balance? Would there still
be collection activities on the 28K? Should he just go a head and pay off
the 28k in full, or just pay the personal property amount. After reading
codes I can't figure this one out.
Thanks for the input !
Renay
On Mon, Feb 27, 2012 at 1:31 PM, Mark J. Markus wrote:
> **
>
>
> What are you really asking? Are you asking if the unsecured portion is a
> priority claim? or if it's potentially dischargeable? That requires a
> much more detailed analysis. If the returns were never filed or the IRS
> filed a substitute return, they're not going to be dischargeable, but they
> may be non-priority (in other words, you could pay less than 100% through
> the plan, but the obligation would remain after the 13...similar to student
> loans).
>
>
Let me see if I can be clearer:Debtor purportedly did not file 2003, 2005 & 2006. IRS assessed in June 2008 and recorded a lien on the amount owed of $28,000.00. When IRS filed proof of claim these amounts were not listed as priority but rather were listed as "secured" claims.
So I figure like Mark J said put on schedule D and pay the personal property value of $7,170.00 over the five years of the plan at 3%. So then the question is if he never files those returns and accepts the assessment as the balance of $21K or like Mr. Markus said below, the obligation would remain.... would there still be a lien on the balance? Would there still be collection activities on the 28K? Should he just go a head and pay off the 28k in full, or just pay the personal property amount. After reading codes I can't figure this one out.
Thanks for the input !RenayOn Mon, Feb 27, 2012 at 1:31 PM, Mark J. Markus <bklawr@yahoo.com> wrote:
What are you really asking? Are you
asking if the unsecured portion is a priority claim? or if it's
potentially dischargeable? That requires a much more detailed
analysis. If the returns were never filed or the IRS filed a
substitute return, they're not going to be dischargeable, but they
may be non-priority (in other words, you could pay less than 100%
through the plan, but the obligation would remain after the
13...similar to student loans).
The post was migrated from Yahoo.
What are you really asking? Are you asking if the unsecured portion
is a priority claim? or if it's potentially dischargeable? That
requires a much more detailed analysis. If the returns were never
filed or the IRS filed a substitute return, they're not going to be
dischargeable, but they may be non-priority (in other words, you
could pay less than 100% through the plan, but the obligation would
remain after the 13...similar to student loans).
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this
means at
The post was migrated from Yahoo.
charsetF-8;
format="flowed"
If not filed old years not dischargeable. Assesment irrelevant.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED
RECIPIENT OF THE TRANSMISSION, AND THIS COMMUNICATION IS INTENDED TO BE
PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW,
USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY
PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN E-MAIL
AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE
FOR YOUR COOPERATION.
On Mon, 27 Feb 2012 13:20:57 -0800, R Grace Rodriguez wrote:
Thank you Mark & Mark.
Now this opens up bigger question, he says he filed, he showed me
returns he filed. IRS Coded it as never filed, but assessed more than
3 years ago.
Once they have been assessed my understanding is that it won't matter
if they have not been filed. Correct? And thanks for the Percentage
information.
Renay
start="60iaizk3ktgk@webmail.mysuperpageshosting.com"
charsetF-8
p{margin: 0;padding: 0;}If not filed old years not
dischargeable. Assesment irrelevant.
Mark T. JesseeLaw Offices of Mark T. Jessee"A Debt Relief
Agency"50 W. Hillcrest Drive, Suite 200Thousand Oaks, CA 91360(805)
497-5868 (805) 497-5864 (Facsimile)NOTICE TO RECIPIENT: THIS E-MAIL IS
MEANT FOR ONLY THE INTENDED RECIPIENT OF THE TRANSMISSION, AND THIS
COMMUNICATION IS INTENDED TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL
IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS
E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY
RETURN E-MAIL AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN
ADVANCE FOR YOUR COOPERATION.
On Mon, 27 Feb 2012 13:20:57 -0800, R Grace Rodriguez
<rgracelaw@gmail.com> wrote:
The post was migrated from Yahoo.
Thank you Mark & Mark.
Now this opens up bigger question, he says he filed, he showed me returns
he filed. IRS Coded it as never filed, but assessed more than 3 years ago.
Once they have been assessed my understanding is that it won't matter if
they have not been filed. Correct? And thanks for the Percentage
information.
Renay
>
Thank you Mark & Mark. Now this opens up bigger question, he says he filed, he showed me returns he filed. IRS Coded it as never filed, but assessed more than 3 years ago.
Once they have been assessed my understanding is that it won't matter if they have not been filed. Correct? And thanks for the Percentage information.Renay
The post was migrated from Yahoo.
Right now the IRS is using 3% on the secured debts. You should
list the debt in Schedule "D". Then use 3SFP or 3SPR, (Class 3) to
pay the secured portion through the plan (i.e. the amount of the
value of assets listed in Schedule "B" in your hypo). You may need
to haggle with the IRS a bit after they file their claim over
exactly how much is secured and isn't, if it makes any difference in
the bottom line for your client's plan.
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this
means at
The post was migrated from Yahoo.
charsetF-8;
format="flowed"
If client filed a return for those years more than two years ago, the
debt would not go on Schedule E. I would list on D as undersecured and
only pay the secured amount under the plan.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
On Mon, 27 Feb 2012 12:54:31 -0800, R Grace Rodriguez wrote:
OR is the answer to list it on schedule E for a 2nd
listing but describe it as the SECURED portion of taxes which must be
paid?
start="7cykluofxt44@webmail.mysuperpageshosting.com"
charsetF-8
p{margin: 0;padding: 0;}If client filed a return for those
years more than two years ago, the debt would not go on Schedule E. I
would list on D as undersecured and only pay the secured amount under the
plan.
Mark T. JesseeLaw Offices of Mark T. Jessee"A Debt Relief
Agency"50 W. Hillcrest Drive, Suite 200Thousand Oaks, CA 91360(805)
497-5868 (805) 497-5864 (Facsimile)
On Mon, 27 Feb 2012 12:54:31 -0800, R Grace Rodriguez
<rgracelaw@gmail.com> wrote:
The post was migrated from Yahoo.
Sorry Mark I should have said...... 13
On Mon, Feb 27, 2012 at 12:58 PM, Mark J. Markus wrote:
> **
>
>
> Which chapter are you filing?
>
>
>
Sorry Mark I should have said...... 13On Mon, Feb 27, 2012 at 12:58 PM, Mark J. Markus <bklawr@yahoo.com> wrote:
Which chapter are you filing?
The post was migrated from Yahoo.
Which chapter are you filing?
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this
means at
The post was migrated from Yahoo.