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PC with over $1M IRS & FTB debt all 10 yrs or older
Hello Craig:
Why does the corporate attorney say it's a bad idea?IRS debt should expire 10 years after the assessment. Did he file tax returns for these years, or are they years for which IRS needed to create a number for him?FTB debt should expire 20 years after the assessment, although FTB also takes some pretty aggressive positions about renewing the 20-year clock.I have seen trustees go after the nonfiling spouse's separate property under an airtight prenuptial agreement. I see this as extortion, but it's hard to prove. You may have a fight; be prepared for it.- John D. Faucher818/889-8080
On Monday, February 27, 2017 8:29 AM, "Craig J Beauchamp legallycraig@gmail.com [cdcbaa]" wrote:
PC doesn't work any more, has no assets, though wife works earning less than $55k per year and she owns home, pre-marital separate property. His IRS debt all pre-dates marriage.
PC wants to get out from under tax cloud so he can start his golden years without tax debt hanging over him. He basically retired (sort of emotional breakdown) before 2000 and then met his wife who supported him since, primarily because of the tax debt.
He says he might like to work part time, buy a car, etc. none of which he can do with all the tax debt. His company he transferred to his children almost 20 years ago and last real property he owned and sold was in 2005 which resulted in capital gains tax even though he realized next to nothing from the sale which paid off 3 or 4 lienholders.
Does anyone see any reason he should not file ch 7? His former corporate attorney says it is bad idea. I reviewed the pre-nup wife drew up and it appears to be airtight with respect to her home with has substantial equity but he has never contributed to the mortgage or upkeep.. Neither IRS nor FTB have gone after her even though they file jointly now.
Looking forward to some feed back.
Craig
Craig J. Beauchamp, Esq.Attorney at Law1352 Irvine Blvd, Suite 201Tustin, CA 92780Mailing Address
PO Box 25857Santa Ana, CA 92799(949) 689-9709 directline(714) 835-5763NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not acceptnotice forEx ParteApplications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
IMPORTANT NOTICE required by 11 U.S.C. 528:We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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.
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PC doesn't work any more, has no assets, though wife works earning less
than $55k per year and she owns home, pre-marital separate property. His
IRS debt all pre-dates marriage.
PC wants to get out from under tax cloud so he can start his golden years
without tax debt hanging over him. He basically retired (sort of emotional
breakdown) before 2000 and then met his wife who supported him since,
primarily because of the tax debt.
He says he might like to work part time, buy a car, etc. none of which he
can do with all the tax debt. His company he transferred to his children
almost 20 years ago and last real property he owned and sold was in 2005
which resulted in capital gains tax even though he realized next to nothing
from the sale which paid off 3 or 4 lienholders.
Does anyone see any reason he should not file ch 7? His former corporate
attorney says it is bad idea. I reviewed the pre-nup wife drew up and it
appears to be airtight with respect to her home with has substantial equity
but he has never contributed to the mortgage or upkeep.. Neither IRS nor
FTB have gone after her even though they file jointly now.
Looking forward to some feed back.
Craig
Craig J. Beauchamp, Esq.
*Attorney at Law*
1352 Irvine Blvd, Suite 201
Tustin, CA 92780
*Mailing Address*
PO Box 25857
Santa Ana, CA 92799
(949) 689-9709 directline
(714) 835-5763 fax
Legallycraig@gmail.com
NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept 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.
IMPORTANT NOTICE required by 11 U.S.C. 528: We are a debt relief agency.
We help people file for bankruptcy relief under the Bankruptcy Code.
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.
PC doesn't work any more, has no assets, though wife works earning less than $55k per year and she owns home, pre-marital separate property. His IRS debt all pre-dates marriage. PC wants to get out from under tax cloud so he can start his golden years without tax debt hanging over him. He basically retired (sort of emotional breakdown) before 2000 and then met his wife who supported him since, primarily because of the tax debt. He says he might like to work part time, buy a car, etc. none of which he can do with all the tax debt. His company he transferred to his children almost 20 years ago and last real property he owned and sold was in 2005 which resulted in capital gains tax even though he realized next to nothing from the sale which paid off 3 or 4 lienholders.Does anyone see any reason he should not file ch 7? His former corporate attorney says it is bad idea. I reviewed the pre-nup wife drew up and it appears to be airtight with respect to her home with has substantial equity but he has never contributed to the mortgage or upkeep.. Neither IRS nor FTB have gone after her even though they file jointly now.Looking forward to some feed back. CraigAttorney at Law1352 Irvine Blvd, Suite 201Tustin, CA 92780Mailing AddressPO Box 25857Santa Ana, CA 92799IMPORTANT NOTICE required by 11 U.S.C. 528:
The post was migrated from Yahoo.
X-Original-Return-Path: Craig J Beauchamp
To: cdcbaa@yahoogroups.com
X-Yahoo-Newman-Id: groups-system
PC doesn't work any more, has no assets, though wife works earning less
than $55k per year and she owns home, pre-marital separate property. His
IRS debt all pre-dates marriage.
PC wants to get out from under tax cloud so he can start his golden years
without tax debt hanging over him. He basically retired (sort of emotional
breakdown) before 2000 and then met his wife who supported him since,
primarily because of the tax debt.
He says he might like to work part time, buy a car, etc. none of which he
can do with all the tax debt. His company he transferred to his children
almost 20 years ago and last real property he owned and sold was in 2005
which resulted in capital gains tax even though he realized next to nothing
from the sale which paid off 3 or 4 lienholders.
Does anyone see any reason he should not file ch 7? His former corporate
attorney says it is bad idea. I reviewed the pre-nup wife drew up and it
appears to be airtight with respect to her home with has substantial equity
but he has never contributed to the mortgage or upkeep.. Neither IRS nor
FTB have gone after her even though they file jointly now.
Looking forward to some feed back.
Craig
Craig J. Beauchamp, Esq.
*Attorney at Law*
1352 Irvine Blvd, Suite 201
Tustin, CA 92780
*Mailing Address*
PO Box 25857
Santa Ana, CA 92799
(949) 689-9709 directline
(714) 835-5763 fax
Legallycraig@gmail.com
NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept 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.
IMPORTANT NOTICE required by 11 U.S.C. 528: We are a debt relief agency.
We help people file for bankruptcy relief under the Bankruptcy Code.
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.
PC doesn't work any more, has no assets, though wife works earning less than $55k per year and she owns home, pre-marital separate property. His IRS debt all pre-dates marriage. PC wants to get out from under tax cloud so he can start his golden years without tax debt hanging over him. He basically retired (sort of emotional breakdown) before 2000 and then met his wife who supported him since, primarily because of the tax debt. He says he might like to work part time, buy a car, etc. none of which he can do with all the tax debt. His company he transferred to his children almost 20 years ago and last real property he owned and sold was in 2005 which resulted in capital gains tax even though he realized next to nothing from the sale which paid off 3 or 4 lienholders.Does anyone see any reason he should not file ch 7? His former corporate attorney says it is bad idea. I reviewed the pre-nup wife drew up and it appears to be airtight with respect to her home with has substantial equity but he has never contributed to the mortgage or upkeep.. Neither IRS nor FTB have gone after her even though they file jointly now.Looking forward to some feed back. CraigAttorney at Law1352 Irvine Blvd, Suite 201Tustin, CA 92780Mailing AddressPO Box 25857Santa Ana, CA 92799IMPORTANT NOTICE required by 11 U.S.C. 528:
The post was migrated from Yahoo.