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Discharging Taxes in Bankruptcy - BJ Haynes - Virginia - Maryland - Washington DC (4033 words) |
 | BC '507(a)(8)(A)(ii) -- Taxes are nondischargeable if assessed less than 240 days prior to the filing of the bankruptcy petition (with this 240 days being extended for the period of time an offer in compromise is pending, plus 30 days). |
| BC '507(a)(8)(C) bars the discharge of "a tax required to be collected or withheld and for which the debtor is liable in any capacity." This covers the withheld portion of employment taxes and the related IRC '6672 trust fund recovery penalty. |
| The presumption of abuse arising under new BC '707(b)(2) turns on the new means test, which has three elements: (1) the debtor's monthly income, (2) the allowable deductions from that monthly income, and (3) trigger points at which the net income after allowable deductions would give rise to a presumption of abuse. |
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BIGpedia - 500s BC - Encyclopedia and Dictionary Online (273 words) |
| 502 BC - December 4 Solar eclipse darkens Egypt. |
| 501 BC - Confucius is appointed governor of Chung-tu. |
| 500 BC - Darius I of Persia proclaims that Aramaic be the official language of the western half of his empire |
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