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THE CONSUMER BANKRUPTCY LETTER |
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In This Issue:
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September 20, 2004
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NEXT - DISCHARGING TAXES AT FISHERMANS' WHARF
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BankruptcyBooks.com - FEATURING KINGSPRESS
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PENDING EVENTS, SEMINARS & CLE
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HEADS-UP ON RECENT CASES
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CHAPTER 12 NO LONGER EXISTS
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JOIN US AT FISHERMAN'S WHARF - SAN FRANCISCO -
OCTOBER 27, 28, 29
CLE CREDITS APPROVED IN ELEVEN STATES TO DATE
The Academy on Discharging Taxes in Bankruptcy has been approved for CLE credit in eleven states, for from 16 to 19 hours. The states approved so far are: Arkansas, California, Colorado, Florida, Indiana, Iowa, Minnesota, Ohio, Tennessee, Texas and Utah. Accreditation from all other states having mandatory CLE is expected.
KING BANKRUPTCY ACADEMY - DISCHARGING TAXES MADE SIMPLE!
The next dates scheduled for the 5th annual 3-day Bankruptcy Academy on discharging taxes in bankruptcy cases have been scheduled for -
FISHERMAN'S WHARF, S. F., on October 27, 28 & 29, 2004,
SAN ANTONIO, Texas, January 27, 28 & 29, 2005.
Additional 2005 dates are pending for Atlanta, Georgia, and Boston, Mass.
Principal presenters will be; Morgan King, attorney and author of Discharging Taxes in Bankruptcy; and other experts including Charles F. Rosen, former chief of the Los Angeles IRS office of Special Procedures (bankruptcy, insolvency); Eric M. Casper, formerly Senior Trial Attorney, Tax Division, U.S. Department of Justice - Washington, D.C.; and Robert N. Kolb, formerly with the IRS and recently the prevailing attorney for the debtor/taxpayer in two important appellate cases. Also appearing - enrolled agents Jerry Satterberg and Bobby Covic. The specific faculty may change depending on speaker availablity.
The 3-day seminar and workshop will be a thorough exploration of bankruptcy remedies for delinquent taxes and tax liens in consumer bankruptcy cases (chapter 7 and chapter 13), emphasizing practical handlng of tax discharge cases from A-to-Z.
CLE ACCREDITATION
Previous programs have qualified for CLE in all states for which CLE accreditation was requested. The Academy is applying for attorneys' CLE accreditation in all states for which CLE is mandatory.
CPE accreditation from the IRS for enrolled agents has been approved.
TUITION
Single attorney for Fisherman's Wharf or San Antonio $645
Double attorney registration any location $995 (saves $400!)
Single attorney from Northern California $495
Paralegal or other office staff any location $350
Enrolled agent or CPA any location $495
For more information about the Tax Discharge program, or to enroll, click on red below or call (925) 829-6460 west coast time.
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KING'S DISCHARGING TAXES IN BANKRUPTCY
5th ed. • 915 pages • 75 exhibits and checklists • over 1,000 cases cited • indexed
This book has been called "the bible" for discharging taxes in consumer bankruptcy cases. Used by thousands of lawyers, trustees, judges and other tax professionals across the country, it explains in simple yet comprehensive terms what kinds of taxes can be erased, when they can be erased, and how they can be erased in chapter 7, 13, or 11. It covers all the issues and traps for the unwary. This book is even used by revenue officers!
Says Ike Shulman, former President of the National Association of Consumer Bankruptcy Attorneys, "Every serious bankruptcy practitioner should have this book!"
At BankruptcyBooks.com
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CONFIRMED CHAPTER 13 PLAN PARTIALLY BINDS THE IRS
This cause is before the Court on the Objection to Proof of Claim of the Internal Revenue Service (the "IRS") filed by Lydia S. Meyer, the standing Chapter 13 Trustee (the "Trustee"). The Trustee objects to the proof of claim on the basis that it indicates that the claim is partially secured, even though the confirmed plan provides for payment as an unsecured priority claim. Because the proof of claim is contrary to the treatment of the claim provided for in the plan, the Trustee asserts that the confirmed plan fixes the value of the secured claim at zero and extinguishes the IRS's lien. For the reasons set forth below, the Trustee's Objection to Proof of Claim of the Internal Revenue Service is overruled. The IRS filed a response in opposition to the Trustee's objection and a Cross-Motion to Vacate or Revoke Confirmation Order. For the reasons set forth below, the IRS's cross-motion is denied.
Thus, the question to be resolved is whether the IRS is bound by the terms of the Amended Plan or whether the treatment of the IRS's claim is controlled by its proof of claim.
Relief from a confirmation order brought pursuant to Federal Rule 60 can be granted only when a party has been deprived of a constitutional right. Accordingly, the IRS must demonstrate that notice was constitutionally inadequate in order to get relief from the Confirmation Order pursuant to Federal Rule 60.
Because the Amended Plan does not treat the IRS's claim as secured, despite the fact that a tax lien exists, the Amended Plan and Confirmation Order do not affect that lien. However, the IRS is still bound by the treatment of its claim as set forth in the Amended Plan and will receive payments accordingly.
IN RE SWANSON, (N.D.Ill. 2004)
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DEBTOR IN BUSINESS IS EXPECTED TO MAINTAIN RECORDS APPROPRIATE FOR BEING IN BUSINESS
A party objecting to discharge under § 727(a)(3) is required to show only that the debtor's records are not reasonable in light of the circumstances, not that the debtor failed to keep records in order to deceive his creditors, See Goldstein, 123 B.R. at 525-26: Harman v. Brown (In re Brown), 56 B.R. 63, 66 (D.N.H.1985). The purpose of this section is to allow a determination of whether the debtor is indeed an honest debtor. When the debtor fails to keep records pertaining to his business income and expenses, it is impossible for the debtor's creditors to formulate any objections to discharge.
IN RE JACOBOWITZ, 309 B.R. 429 (S.D.N.Y. 2004)
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PUBLISHED BY KING BANKRUPTCY MEDIA FOR BANKRUPTCY PROFESSIONALS 7080 Donlon Way Suite 222 Dublin California 94568 (925) 829-6460
© King Bankruptcy Media 2004 CONTACT US AT editor@bankruptcymedia.com
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