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Tax Lien questions - Chapter 13
Hello Holly:There is a "silent lien" that attaches to all real and personal property 10 days after the IRS demands payment and isn't paid. It's an abstraction that is never enforced.The Notice of Federal Tax Lien has no effect until it's recorded in the county where the taxpayer's real property is, or, for personal property, where the taxpayer resides. Thus, recording in the county where the taxpayer lives in his mobile home will be effective.Federal law preempts state exemptions here.In your example, with a $200,000 lien amount and $100,000 of equity, the chapter 13 plan would require paying out $100,000. I am fuzzy on whether interest needs paying.If the taxpayer doesn't pay over proceeds of an asset that is subject to the lien, then he may be liable for evasion of tax. That's a case-by-case thing, and depends on how much money escaped the tax authority liens, what other income the taxpayer had, how motivated the tax authority personnel is, and what he used it on (luxuries versus living expenses).If you have two tax authorities with liens, one has priority over the other. Priority is not determined by recording date, but rather by assessment date. - John D. Faucher818/889-8080
On Saturday, December 3, 2016 1:57 PM, "Holly Roark hollyroark22@gmail.com [cdcbaa]" wrote:
The IRS transcripts show a tax lien was filed on 7/3/15 and the Notice of Tax Lien filing was issued on 7/7/15. I have determined that the underlying tax debt is dischargeable.
In order for the lien to attach to real property, does the federal tax lien have to be FILED or RECORDED in the proper county? Or does the notice to the Debtor suffice to attach to the home? Would there be a difference if the property is a manufactured/mobile home?
Are there any states whose exemption laws prohibit a federal tax lien from having superior priority to a homestead exemption? Is that even possible or is this a case of federal preemption?
If the lien is (say) $200K and the equity in the property is $100K, does the entire $100K have to be paid in full during the 60 month CH 13 plan? (This is assuming the tax lien has priority over any homestead). Does interest have to be paid?
If the debtor is in a payment plan with both the IRS and the state taxing authority (not an OIC), but both the IRS and state have a lien on all property, are there consequences for Debtor not paying over to either taxing authority proceeds from something (let's say, sale of an asset, award, etc.)? Would debtor be required to turn over such proceeds because of the lien or would the payment plan render that unnecessary?
Holly RoarkCertified Bankruptcy Specialist*
and Sports Lawyer
holly@roarklawoffices.com**primary email address**www.roarklawoffices.comCentral District of California & District of Idaho - Consumer Bankruptcy Attorney1875 Century Park East, Suite 600 Los Angeles, CA 90067T (310) 553-2600; F (310) 553-2601*By State Bar of California Board of LegalSpecialization
The post was migrated from Yahoo.
On Sat, Dec 3, 2016 at 5:38 PM, Michael Avanesian michael@avanesianlaw.com
[cdcbaa] wrote:
>
>
>
>
> Also, how can the Debtor pay you? Third parties do not have actual
> knowledge of the lien but you do. [I am not making a statement, I do not
> know the answer.]
>
> *Third party. And Debtors have a payment plan with each tax authority.
Wondering the affect of the liens on income beyond the agreed monthly
payment if Debtors did pay me from their funds.I understand your point, but
not sure.*
>
>
> On Sat, Dec 3, 2016 at 1:57 PM, Holly Roark hollyroark22@gmail.com
> [cdcbaa] wrote:
>
>>
>>
>> The IRS transcripts show a tax lien was filed on 7/3/15 and the Notice of
>> Tax Lien filing was issued on 7/7/15. I have determined that the underlying
>> tax debt is dischargeable.
>>
>> In order for the lien to attach to real property, does the federal tax
>> lien have to be FILED or RECORDED in the proper county? Or does the notice
>> to the Debtor suffice to attach to the home? Would there be a difference
>> if the property is a manufactured/mobile home?
>>
>> Are there any states whose exemption laws prohibit a federal tax lien
>> from having superior priority to a homestead exemption? Is that even
>> possible or is this a case of federal preemption?
>>
>> If the lien is (say) $200K and the equity in the property is $100K, does
>> the entire $100K have to be paid in full during the 60 month CH 13 plan?
>> (This is assuming the tax lien has priority over any homestead). Does
>> interest have to be paid?
>>
>> If the debtor is in a payment plan with both the IRS and the state taxing
>> authority (not an OIC), but both the IRS and state have a lien on all
>> property, are there consequences for Debtor not paying over to either
>> taxing authority proceeds from something (let's say, sale of an asset,
>> award, etc.)? Would debtor be required to turn over such proceeds because
>> of the lien or would the payment plan render that unnecessary?
>>
>>
>>
>> Holly Roark
>> Certified Bankruptcy Specialist*
>> *and Sports Lawyer*
>> holly@roarklawoffices.com **primary email address**
>> www.roarklawoffices.com
>> *Central District of California & District of Idaho* - Consumer
>> Bankruptcy Attorney
>> 1875 Century Park East, Suite 600 Los Angeles, CA 90067
>> T (310) 553-2600; F (310) 553-2601
>>
>> *By State Bar of California Board of Legal Specialization
>>
>>
>>
>
>
On Sat, Dec 3, 2016 at 5:38 PM, Michael Avanesian michael@avanesianlaw.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
The post was migrated from Yahoo.
Attachment happens after a demand and relates back to the date of
assessment. Recordation makes it valid against certain third parties but is
not a requirement.
There is a distinction between 522 and 506. Section 522 relies on exemption
while section 506 + 1322 do not. Of course, when computing equity, you
cannot use the homestead to reduce available equity.
The other answers will take too long for me but two things to think about:
Can the FTB lien be stripped using 522? If so, a Chapter 20 might be
warranted (watch out for a trustee taking the shoes of the taxing
authority).
Also, how can the Debtor pay you? Third parties do not have actual
knowledge of the lien but you do. [I am not making a statement, I do not
know the answer.]
Sincerely,
*Michael Avanesian *
*[image: avanesian-law-logo-modern]*
801 N. Brand Blvd., Suite #1130
Glendale, CA 91203
Tel: (818) 276-2477 | Fax: (818) 208-4550
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On Sat, Dec 3, 2016 at 1:57 PM, Holly Roark hollyroark22@gmail.com [cdcbaa]
wrote:
>
>
> The IRS transcripts show a tax lien was filed on 7/3/15 and the Notice of
> Tax Lien filing was issued on 7/7/15. I have determined that the underlying
> tax debt is dischargeable.
>
> In order for the lien to attach to real property, does the federal tax
> lien have to be FILED or RECORDED in the proper county? Or does the notice
> to the Debtor suffice to attach to the home? Would there be a difference
> if the property is a manufactured/mobile home?
>
> Are there any states whose exemption laws prohibit a federal tax lien from
> having superior priority to a homestead exemption? Is that even possible or
> is this a case of federal preemption?
>
> If the lien is (say) $200K and the equity in the property is $100K, does
> the entire $100K have to be paid in full during the 60 month CH 13 plan?
> (This is assuming the tax lien has priority over any homestead). Does
> interest have to be paid?
>
> If the debtor is in a payment plan with both the IRS and the state taxing
> authority (not an OIC), but both the IRS and state have a lien on all
> property, are there consequences for Debtor not paying over to either
> taxing authority proceeds from something (let's say, sale of an asset,
> award, etc.)? Would debtor be required to turn over such proceeds because
> of the lien or would the payment plan render that unnecessary?
>
>
>
> Holly Roark
> Certified Bankruptcy Specialist*
> *and Sports Lawyer*
> holly@roarklawoffices.com **primary email address**
> www.roarklawoffices.com
> *Central District of California & District of Idaho* - Consumer
> Bankruptcy Attorney
> 1875 Century Park East, Suite 600 Los Angeles, CA 90067
> T (310) 553-2600; F (310) 553-2601
>
> *By State Bar of California Board of Legal Specialization
>
>
>
>
Attachment happens after a demand and relates back to the date of assessment. Recordation makes it valid against certain third parties but is not a requirement.There is a distinction between 522 and 506. Section 522 relies on exemption while section 506 + 1322 do not. Of course, when computing equity, you cannot use the homestead to reduce available equity.The other answers will take too long for me but two things to think about: Can the FTB lien be stripped using 522? If so, a Chapter 20 might be warranted (watch out for a trustee taking the shoes of the taxing authority).Also, how can the Debtor pay you? Third parties do not have actual knowledge of the lien but you do. [I am not making a statement, I do not know the answer.]
The post was migrated from Yahoo.
The IRS transcripts show a tax lien was filed on 7/3/15 and the Notice of
Tax Lien filing was issued on 7/7/15. I have determined that the underlying
tax debt is dischargeable.
In order for the lien to attach to real property, does the federal tax lien
have to be FILED or RECORDED in the proper county? Or does the notice to
the Debtor suffice to attach to the home? Would there be a difference if
the property is a manufactured/mobile home?
Are there any states whose exemption laws prohibit a federal tax lien from
having superior priority to a homestead exemption? Is that even possible or
is this a case of federal preemption?
If the lien is (say) $200K and the equity in the property is $100K, does
the entire $100K have to be paid in full during the 60 month CH 13 plan?
(This is assuming the tax lien has priority over any homestead). Does
interest have to be paid?
If the debtor is in a payment plan with both the IRS and the state taxing
authority (not an OIC), but both the IRS and state have a lien on all
property, are there consequences for Debtor not paying over to either
taxing authority proceeds from something (let's say, sale of an asset,
award, etc.)? Would debtor be required to turn over such proceeds because
of the lien or would the payment plan render that unnecessary?
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
*Central District of California & District of Idaho* - Consumer Bankruptcy
Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of Legal Specialization
The IRS transcripts show a tax lien was filed on 7/3/15 and the Notice of Tax Lien filing was issued on 7/7/15. I have determined that the underlying tax debt is dischargeable.In order for the lien to attach to real property, does the federal tax lien have to be FILED or RECORDED in the proper county? Or does the notice to the Debtor suffice to attach to the home? Would there be a difference if the property is a manufactured/mobile home?Are there any states whose exemption laws prohibit a federal tax lien from having superior priority to a homestead exemption? Is that even possible or is this a case of federal preemption?If the lien is (say) $200K and the equity in the property is $100K, does the entire $100K have to be paid in full during the 60 month CH 13 plan? (This is assuming the tax lien has priority over any homestead). Does interest have to be paid?If the debtor is in a payment plan with both the IRS and the state taxing authority (not an OIC), but both the IRS and state have a lien on all property, are there consequences for Debtor not paying over to either taxing authority proceeds from something (let's say, sale of an asset, award, etc.)? Would debtor be required to turn over such proceeds because of the lien or would the payment plan render that unnecessary?Holly RoarkCertified Bankruptcy Specialist*and Sports Lawyer
holly@roarklawoffices.com**primary email address**
www.roarklawoffices.com
Central District of California & District of Idaho - Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067T (310) 553-2600; F (310) 553-2601
The post was migrated from Yahoo.