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Archives for November 2014

Are Canadian Old Age Security Benefits Excluded from Your Current Monthly Income?

Yes. The Canadian Old Age Security benefits received by the debtors were not included in the debtors’ current monthly income under Code § 101(10A) because § 101(10A)(B) excludes from the calculation of current monthly income any benefits received under the Social Security Act and a U.S.-Canadian treaty, the Agreement with Respect to Social Security, mandates…

How Do You Determine Whether You Have Willfully Evaded the Payment of Income Tax?

Two recent Court of Appeals decisions took different approaches in determining whether a debtor’s nonpayment of a tax liability was “willful” for the purpose of Code § 523(a)(1)(C), which renders a tax debt nondischargeable if the debtor “willfully attempted in any manner to evade or defeat such tax.” The Tenth Circuit, in In re Vaughn,…

Can I Include my Mortgage Payment to Determine my Disposable Income if I am Attempting to Modify the Loan and Intend on Keeping the Property?

Yes. Affirming In re Salas, 2014 WL 92728 (Bankr. S.D. Fla. Jan. 9, 2014), the district court held that the Chapter 13 debtor, in calculating her projected disposable income, could deduct a first mortgage payment that she was not actually making, where the debtor retained the property and sought to work out a mortgage modification…

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