Originally posted by wooisme
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I don't know WHAT it is with these Lawyers!
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Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket"
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Originally posted by MajorMike View PostThey can't take the rebate for taxes within your plan!!!May 2008: Filed Chapter 13
Jan 2010: Plan Amended and Confirmed! finally plan funds = total funds due!
Jul 2013: 5 years done! Trustee set to discharge! Woo hoooo!
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Major Mike posted "They can't take the rebate for taxes within your plan!!!"
Sorry, MM. Here's the scoop straight from the IRS website at http://www.irs.gov/newsroom/article/...180247,00.html -
"All or part of an economic stimulus payment may be applied to back taxes or certain other debts of the taxpayer, such as delinquent child support and student loans. In such cases, the IRS will send a letter to the taxpayer explaining the offset."
Bottom line - seems that the IRS has the right to take part or all your stimulus payment if you owe back taxes that are being paid inside your plan. You'll get a letter explaining what they did if they do take it. If you get the rebate anyway, great. But what this says is it's possible for the IRS to circumvent sending you your rebate in the right circumstances.
If you have back taxes in your plan and the IRS chooses to take your stimulus rebate to pay against what you owe them, then it's hard to imagine why a trustee would ask the IRS (the 800 pound gorilla in the room) to give you back money you owe the IRS and can't discharge anyway. Pay it now or pay it later.Last edited by lrprn; 04-23-2008, 09:05 PM.I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go
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Originally posted by lrprn View PostMajor Mike posted "They can't take the rebate for taxes within your plan!!!"
Sorry, MM. Here's the scoop straight from the IRS website at http://www.irs.gov/newsroom/article/...180247,00.html -
"All or part of an economic stimulus payment may be applied to back taxes or certain other debts of the taxpayer, such as delinquent child support and student loans. In such cases, the IRS will send a letter to the taxpayer explaining the offset."
Bottom line - seems that the IRS has the right to take part or all your stimulus payment if you owe back taxes that are being paid inside your plan. You'll get a letter explaining what they did if they do take it. If you get the rebate anyway, great. But what this says is it's possible for the IRS to circumvent sending you your rebate in the right circumstances.
If you have back taxes in your plan and the IRS chooses to take your stimulus rebate to pay against what you owe them, then it's hard to imagine why a trustee would ask the IRS (the 800 pound gorilla in the room) to give you back money you owe the IRS and can't discharge anyway. Pay it now or pay it later.
Rebate checks were given out in the past but since it has been a while, I haven't seen any postings from anyone who was in a Chapter 13 at that time and either got the check and kept it or the IRS kept it to p[ut toward any back taxes in their Plan and being paid back to the IRS through the Plan. I am sure this will come out via this forum when/if this starts to occur with these rebate checks._________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket"
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