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.
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.
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