Robert is right. Good lesson for everyone. If you file an asset case, you must consider making a short-year election. This election cuts the tax year to the period of the year from Jan 1, until the filing date. Tax due for the short year becomes an obligation of the estate to be paid by the asset case. Don't file the election and human is stuck with the taxes after the bk.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On May 21, 2010, at 4:53 PM,
robert90701@aol.com wrote:
Hello Donny:
The taxes are an obligation of the debtor since an IRC 1398 election was not made by Jan 15,2010
Not obligation of the estate so no claim is allowable.
No pro-ration since no IRC 1398 election made.
Good Luck starts with a strategy and a plan.
Robert J. Suhajda, MS,CPA
17721 Norwalk Blvd. #43
Artesia, CA 90701
562-924-8922
Admitted to US Tax Court, Income Tax for Attorneys, Bankruptcy,
IRS representation, Fiduciary income tax returns, Estate and
Gift tax returns, Trust Protector, Independent Trustee, Court Accountings
In a message dated 5/21/2010 3:56:22 P.M. Pacific Daylight Time,
brandspellman@yahoo.com writes:
Hello everyone,
Chapter 7. Asset Case. Case Filed 09/14/09. Post-petition, Debtor files 2009 tax returns and owes. IRS has not filed POC. Gov't claims bar date has not yet passed.
If I file a POC on behalf of the IRS, are the taxes owed for 2009 an allowable claim?
If so, would I pro-rate the amount owed for 2009 to account for only the pre-petition period of 01/01/2009 to 09/13/2009?
Thanks,
Donny Brand
Brand & Spellman PC
3836 E Anaheim St
Long Beach, CA 90804
Tel: (562) 438-7500
Fax: (562) 438-8500
Robert is right. Good lesson for everyone. If you file an asset case, you must consider making a short-year election. This election cuts the tax year to the period of the year from Jan 1, until the filing date. Tax due for the short year becomes an obligation of the estate to be paid by the asset case. Don't file the election and human is stuck with the taxes after the bk.Dennis McGoldrick350 S. Crenshaw Bl., #A207BTorrance, CA 90503On May 21, 2010, at 4:53 PM,
robert90701@aol.com wrote:
Hello Donny:
The taxes are an obligation of the debtor since an IRC 1398 election was
not made by Jan 15,2010
Not obligation of the estate so no claim is allowable.
No pro-ration since no IRC 1398 election made.
Good Luck starts with a strategy and a plan.
Robert J. Suhajda,
MS,CPA
17721 Norwalk Blvd.
#43
Artesia, CA
90701
562-924-8922
Admitted to US Tax Court, Income Tax for
Attorneys, Bankruptcy,
IRS representation, Fiduciary income tax returns, Estate and
Gift tax returns, Trust Protector, Independent Trustee,
Court Accountings
In a message dated 5/21/2010 3:56:22 P.M. Pacific Daylight Time,
brandspellman@yahoo.com writes:
Hello everyone, Chapter 7. Asset Case. Case Filed 09/14/09.
Post-petition, Debtor files 2009 tax returns and owes. IRS has not filed POC.
Gov't claims bar date has not yet passed.If I file a POC on behalf of
the IRS, are the taxes owed for 2009 an allowable claim? If so, would
I pro-rate the amount owed for 2009 to account for only the pre-petition period of 01/01/2009 to 09/13/2009? Thanks, Donny
BrandBrand & Spellman PC3836 E Anaheim StLong Beach, CA
90804Tel: (562) 438-7500Fax: (562) 438-8500
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