Internal Revenue Manual - Exempt property subject to collection after
Posted: Wed Dec 02, 2015 5:04 pm
*Section 522, Exemptions.* Provided in this section of the code are
property exemptions a debtor may select. The federal exemptions apply
unless the state in which the debtor is domiciled has enacted specific
legislation authorizing or mandating the use of state exempted property
limitations.
1.
Under 11 USC 362, collection may not be pursued against property
exempt under 522 *while the automatic stay is in effect.*
2.
*Upon discharge, exempt property is subject to collection of
dischargeable taxes for which a Notice of Federal Tax Lien (NFTL) was filed
prior to the petition date.*
R. Grace Rodriguez, Esq.
Full service Real Estate Attorney &
California State Bar
Certified Bankruptcy Specialist
OFF: (818) 734-7223
CEL: (818) 554-9922
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