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9th Circuit tax case - pension can be levied upon post-discharge [2 Attachments]
Peter:
I think any amount withheld by an employer covers past contributions as well as those going forward. Additionally, a plain meaning reading is that this language does not cover employer matching contributions to a 401k. So you could have a 401k that is partially property of the estate and partially not property of the estate. The 522(b)(3)(C) exemption would cover the employer contribution portion and the employee contributions portion would not be property of the estate under 541(c)(7).
I doubt that the drafters meant that or even knew that it was what their amendment said, but it is what we have to work with.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green
Attorney at Law
Fitzgerald & Green
1010 E. Union St. Ste. 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
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