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November 1 changes-how does it affect line 52 on form 22a?? Arizona

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    November 1 changes-how does it affect line 52 on form 22a?? Arizona

    Hi all,
    I understand that the median income standards are changing effective 11/1/2010.

    In Arizona, I pass the means test (long version) because at first look, I make over the median 12 month income.

    Deductions allowable amounts will NOT be changing.

    How does this new change affect Form 22A on line 52 when it gives you the guidelines for whether you "pass" or "fail" the means test??

    I cant find it anywhere.
    Currently, the AZ form 22a states "Initial Presumption" as follows:
    "The amount in line 51 is less than $7,025 or
    "The amount set forth on line 51 is more than $11,725"

    The asterisk on the bottom of the form states **"Amounts are subject to adjustment on 4/01/13 and every three years thereafter**

    So from what I see, even tho the median income is lower as of 11/1, I should STILL qualify for Chapter 7 long-form calculations since the allowables will not be changing (checked the US gov site)

    Am I missing something??? Help please.

    #2
    I agree with you that you should still qualify for Chapter 7.
    Filed Chapter 7 July 2010
    Attended 341 September 2010
    Discharged November 2010 Closed November 2010

    Comment


      #3
      The only thing changing is the state median income guidelines. All other figures, IRS averages, and means test determinations are NOT affected.
      Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
      AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC

      Comment


        #4
        Hi azviolet,

        make over the median 12 month income. ??...remember the means test is the last 6 months only.

        AZ median monthly income went down a whole 47 dollars...probably not something to worry about...

        These numbers are federal, the same for everyone:

        "The amount in line 51 is less than $7,025 = check the box "presumption does not arise", skip to last part of means test (VIII) and you're done

        "The amount set forth on line 51 is more than $11,725 = check the box "presumption does arise", skip the rest of part VI and complete part VII and VIII

        If you are in between these two numbers you finish part VI

        Clear as mud...?

        Tom in Colo
        Ch7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010

        Comment

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