9th Circuit tax case - pension can be levied upon=20
Posted: Tue Mar 11, 2014 11:35 am
Yes, but even if unambiguously exempted would not the net result be the same as the IRS holds a statutory lien? If the pension was part of the Chapter 7 estate, the exemption on Schedule C would not apply to the IRS statutory lien. If the pension is subject to IRS levy and it was affirmatively
included by the debtor (assuming the debtor can elect to make it so) as anasset of the bankruptcy estate would that waive the ERISA protection as tothe Chapter 7 Trustee to administer it as an asset? Regardless, if the
pension was not administered in the bankruptcy estate, the lien would still
ride through the bankruptcy and the IRS could still pursue the lien.
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)
In a message dated 3/11/2014 9:54:09 A.M. Pacific Daylight Time,
havkinlaw@earthlink.net writes:
It sounds like the 9th circuit thought that might have worked.
Kirk Brennan
Sent: Tuesday, March 11, 2014 9:44 AM
To: Cdcbaa Yahoo Listserv
Subject: Re: [cdcbaa] 9th Circuit tax case - pension can be levied upon
post-discharge
Do you think the result would have been different if the pension had been unequi vocally exempted on the Schedule C?
On Mar 11, 2014 8:58 AM, wrote:
[_Attachment(s)_ (mip://0cac8ba0/default.html#144b1ddfa6d023d3_TopText) from _havkinlaw@earthlink.net_ (mailto:havkinlaw@earthlink.net) included
below]
The 9th Circuit ruled that IRS could levy after discharge on a pension
that was excluded under Patterson v. Shumate in the Debtor's bankruptcy
schedules, rather than exempted. See attached.
Stella Havkin
Yes, but even if unambiguously exempted would not the net result be the
same as the IRS holds a statutory lien? If the pension was part of the
Chapter 7 estate, the exemption on Schedule C would not apply to the IRS
statutory lien. If the pension is subject to IRS levy and it was
affirmatively included by the debtor (assuming the debtor can elect to make it
so) as an asset of the bankruptcy estate would that waive the ERISA
protection as to the Chapter 7 Trustee to administer it as an
asset? Regardless, if the pension was not administered in the bankruptcy
estate, the lien would still ride through the bankruptcy and the IRS could still
pursue the lien.
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)
In a message dated 3/11/2014 9:54:09 A.M. Pacific Daylight Time,
havkinlaw@earthlink.net writes:
It sounds
like the 9th circuit thought that might have worked.
From: cdcbaa@yahoogroups.com
[mailto:cdcbaa@yahoogroups.com] On Behalf Of Kirk
BrennanSent: Tuesday, March 11, 2014 9:44 AMTo: Cdcbaa
Yahoo ListservSubject: Re: [cdcbaa] 9th Circuit tax case - pension
can be levied upon post-discharge
Do you think the result would have been different if the pension had been
unequi vocally exempted on the Schedule C?
On Mar 11, 2014 8:58 AM, <
The post was migrated from Yahoo.