Means Test Numbers

[dakota112]

Does anyone know when new Means Test Numbers from the Census will show up and or change?

[JoeBankrupt33]

They are available now. They go into effect 11/1/09.

http://www.usdoj.gov/ust/eo/bapcpa/2...anstesting.htm

[leena]

Red alert for near the median people who need to file! My state median for one person went down by 2K, so I am thinking other states have changed sharply also! Sounds like a good time to stay home this weekend and get your stuff in order to file if you have been putting it off...

Yes, you can get a 7 if you are over the median very frequently, but it is more difficult (and here in MN my attorney said the trustees get very fussy on expenses)...

[TeacherMomma]

Am I missing something? Why would the median income for 4 be more than for 5 or 6?

California
Total: 67,484 +/-375
2-person families 62,690 +/-656
3-person families 68,070 +/-1,039
4-person families 77,014 +/-1,154
5-person families 66,176 +/-1,139
6-person families 65,090 +/-1,639
7-or-more-person families 71,162 +/-2,359

[JoeBankrupt33]

The data from the census is statistical data that represents the actual median income of families with a certain number of people. So, in the data you show above, the median income of a 5-person family in CA is less than the median 4-person family. This is probably because more 5-person families have one stay at home parent.

Good news for the bankrupt, though, the data for 5+ person families is not used. They take the median income for a 4-person family and add $6,900 for each person.

Something interesting to note: if you look at the median income date for the District of Columbia, 3 and 4 person families are exactly the same (for BK purposes) because 3 person families in DC earn more than 4 person families. This is probably because 3-person families include politicians while 4-person families are more normal.

[wantout]

The single filers for my state went up, that puts me at $7000 under.......

Guess I should be glad about that....