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9th Circuit tax case - pension can be levied upon=20
That was my point. The exemption is irrelevant as to the IRS. The lienwould allow the IRS to go after the pension regardless of whether the
pension is an asset of the estate or not.
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 2:46:50 P.M. Pacific Daylight Time,
sblever@leverlaw.com writes:
The IRS as a United States agency does not have to give credence to statelaw exemptions. IRS can always go after IRAs and pensions for
nondischargeable debts or enforcement of tax liens.
Steven B. Lever
jesseelaw@aol.com
Sent: Tuesday, March 11, 2014 11:35 AM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] 9th Circuit tax case - pension can be levied upon post-discharge
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_ (mailto:havkinlaw@earthlink.net) writes:
It sounds like the 9th circuit thought that might have worked.
_[mailto:cdcbaa@yahoogroups.com]_ (mailto:[mailto:cdcbaa@yahoogroups.com]) On Behalf
Of 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 beenunequi 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
That was my point. The exemption is irrelevant as to the
IRS. The lien would allow the IRS to go after the pensionregardless of whether the pension is an asset of the estate or
not.
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 2:46:50 P.M. Pacific Daylight Time,
sblever@leverlaw.com writes:
The IRS as a United States
agency does not have to give credence to state law exemptions. IRS can
always go after IRAs and pensions for nondischargeable debts or enforcement of
tax liens.
Steven B. Lever
From: cdcbaa@yahoogroups.com
[mailto:cdcbaa@yahoogroups.com] On Behalf Of
jesseelaw@aol.comSent: Tuesday, March 11, 2014 11:35
AMTo: cdcbaa@yahoogroups.comSubject: Re: [cdcbaa] 9th
Circuit tax case - pension can be levied upon
post-discharge
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,
The post was migrated from Yahoo.