Taxes: How to get Trustee disbursements applied first to priorit
Posted: Sat Jun 26, 2010 3:17 pm
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Mark:
Would it help, since you are filing the claims, to file separate claims for
each category? Identify the secured claims and file a POC that explains the
basis for the secured status. Then file a POC for the unsecured priority
claims, if there are some that exceed the collateral, and take the time to
explain the basis of that designation. If anything is left, file a third
POC designating the balance as unsecured, non-priority claims. When the
Trustee goes to pay claims he will list them as such on his final report,
which must be approved by the court and, if I recall, the COURT issues an
ORDER approving the distribution, by claim. After the case is closed, you
and I both know that the IRS will claim to have applied the payments some
other way, and claim the taxes that were paid were the unsecured
non-priority taxes. So, the IRS will move later (post-discharge) to levy or
garnish. THEN, you have to re-open the case, and ask for an injunction.
But you will get it if the final report and order are clear. I hope you
have a good trustee who appreciates you bringing him/her an asset case, and
cooperating with the administration of that case. If you work with, and not
against the trustee, and explain what you want to accomplish, my experience
is that they will help you by making the final report VERY clear about what
is being paid for what.
The key to this is that you said YOU will file the claims for the IRS. Its
gonna get tricky if the IRS files their own claims later. Then you might
have to object to their claims to make sure they have correctly categorized
each claim as secured/unsecured, and then priority/non priority. Very
tricky, but I think you can do it. Good luck! P.S. Had fun on the course
at the tourney with you a few weeks ago!
-Jeffrey B. Smith**
CURD, GALINDO & SMITH, L.L.P.
301 East Ocean Blvd. #1700
Long Beach, CA 90802
(562) 624-1177
(562) 624-1178 fax
(310) 993-6560 cellular
www.expertbk.com
**Certified By The State Bar
Of California As A Specialist
In Bankruptcy Law
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