Internal Revenue Manual - Exempt property subject to collection
Posted: Thu Dec 03, 2015 5:49 am
Dear Members:
Okay, so as a practical matter, that is why when they do the NFTL that is
what makes those taxes "SECURED" and they have to be paid in a Chapter 13
to the extent of their value. When we do that however, then the tax lien
comes off?
Sorry I'm having one of those moments where I know 1 plus 1 equals 2 but
never saw the 47 page proof to show why that is true until now. . . Same
with BK Law. . .
I know that Secureds have to be paid. . . . but then the lien should come
off right because you have paid in the value of the exempt property into
the Chapter 13 plan. Correct? Do I need to make a motion to have the tax
lien removed before closing a Chapter 13 plan?
I'm getting a lot of clients with tax issues. Thanks!
Renay
Dear Members:Okay, so as a practical matter, that is why when they do the NFTL that is what makes those taxes "SECURED" and they have to be paid in a Chapter 13 to the extent of their value. When we do that however, then the tax lien comes off?Sorry I'm having one of those moments where I know 1 plus 1 equals 2 but never saw the 47 page proof to show why that is true until now. . . Same with BK Law. . .I know that Secureds have to be paid. . . . but then the lien should come off right because you have paid in the value of the exempt property into the Chapter 13 plan.before closing a Chapter 13 plan?
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