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Help with form 106ef please

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  • Help with form 106ef please

    Hi all. Here are my questions about form 106ef:

    1. Do I have to call the creditors to find out account numbers if I don't have them or is it ok to put the last 4 digits that are shown on my credit reports?
    .
    2. Is the date I defaulted/stopped making payments on the loan the date that the debt was incurred? Or is it the date the account was opened?

    3. I received a letter from an attorney that references Capital One and includes an amount owed, however, the letter doesn't reference an account number. Do I have to call the attorney to get the darn account number? uggh!

    4. I read the thread about Chapter 7 and Federal Taxes but am wondering if state taxes can be discharged too? I found out not too long ago that I owe taxes from 2012 (a mistake I made on my return) and just recently got approved for a payment plan.

    Thank you in advance for your help!

    Tina

  • #2
    Originally posted by MsBobina View Post
    Hi all. Here are my questions about form 106ef:

    1. Do I have to call the creditors to find out account numbers if I don't have them or is it ok to put the last 4 digits that are shown on my credit reports?
    List who the creditor is and the last 4. No need to have full account numbers, they go off of your SSN.
    .

    Originally posted by MsBobina View Post
    2. Is the date I defaulted/stopped making payments on the loan the date that the debt was incurred? Or is it the date the account was opened?
    The date you defaulted- stopped making payments.

    Originally posted by MsBobina View Post
    3. I received a letter from an attorney that references Capital One and includes an amount owed, however, the letter doesn't reference an account number. Do I have to call the attorney to get the darn account number? uggh!
    Again, list Capital One as a creditor. List the collection agency/collection attorney if needed. Again, they use your SSN

    Originally posted by MsBobina View Post
    4. I read the thread about Chapter 7 and Federal Taxes but am wondering if state taxes can be discharged too? I found out not too long ago that I owe taxes from 2012 (a mistake I made on my return) and just recently got approved for a payment plan.
    Taxes are very, very rarely discharged in a bankruptcy. Filing will put in place the automatic stay, so you won't need to pay your state taxes for awhile, but will probably need to pay after the discharge (if not sooner).
    Good luck!


    Originally posted by MsBobina View Post
    Thank you in advance for your help!

    Tina
    Last edited by justbroke; 05-31-2017, 07:48 PM. Reason: Reformatted only to show reply to quoted text.

    Comment


    • #3
      Originally posted by MsBobina View Post
      4. I read the thread about Chapter 7 and Federal Taxes but am wondering if state taxes can be discharged too? I found out not too long ago that I owe taxes from 2012 (a mistake I made on my return) and just recently got approved for a payment plan.
      Taxes can be discharged if they fit the magic formula known as the “3-2-240 rule." Generally taxes must be 3 years past the last date to file without penalty (e.g. you may be able to discharge taxes from Tax Year 2014 and earlier). You must have filed a tax return within 2 years of filing bankruptcy. Any tax assessed must also be more than 240 days old prior to filing your bankruptcy. Hence, the 3-2-240 rule.

      It is not too often a person filing Chapter 7 fits the magic formula "and" the IRS has not already filed a federal tax lien (FTL). The FTL can make past taxes difficult to deal with as the FTL attaches to all your property and makes the taxes secured debt. The first threshold, however, is that you filed a tax return and the taxes were last due more than 3 years prior to filing.

      Since you indicate that the taxes are from 2012, you pass the 3 year rule. The next is that the tax was "assessed" more than 240 days ago. When did the IRS alert you to the mistake? If it was before about December 1, 2016, then you would pass the 240 day rule. Since you actually filed a return (and only made a mistake) you also pass the 2 year filing rule. The issue would be if there is any FTL. That I can't answer.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog


      I am not an attorney. Any advice provided is not legal advice.

      Comment


      • MsBobina
        MsBobina commented
        Editing a comment
        Based on what you said above I pass the 3-2-240 rule and am going to try to get the taxes I owe discharged. Since I have a payment plan, do I still include it as an expense on Schedule J even though it will be on Schedule E/F?

    • #4
      Originally posted by karibaa View Post
      List who the creditor is and the last 4. No need to have full account numbers, they go off of your SSN.
      .


      The date you defaulted- stopped making payments.


      Again, list Capital One as a creditor. List the collection agency/collection attorney if needed. Again, they use your SSN

      Taxes are very, very rarely discharged in a bankruptcy. Filing will put in place the automatic stay, so you won't need to pay your state taxes for awhile, but will probably need to pay after the discharge (if not sooner).
      Good luck!

      If I don't know the last 4 digits of an accounts number though, do I leave it blank? Or are you saying I should leave put in the last 4 digits of my ssn?

      Comment


      • #5
        Originally posted by justbroke View Post
        Taxes can be discharged if they fit the magic formula known as the “3-2-240 rule." Generally taxes must be 3 years past the last date to file without penalty (e.g. you may be able to discharge taxes from Tax Year 2014 and earlier). You must have filed a tax return within 2 years of filing bankruptcy. Any tax assessed must also be more than 240 days old prior to filing your bankruptcy. Hence, the 3-2-240 rule.

        It is not too often a person filing Chapter 7 fits the magic formula "and" the IRS has not already filed a federal tax lien (FTL). The FTL can make past taxes difficult to deal with as the FTL attaches to all your property and makes the taxes secured debt. The first threshold, however, is that you filed a tax return and the taxes were last due more than 3 years prior to filing.

        Since you indicate that the taxes are from 2012, you pass the 3 year rule. The next is that the tax was "assessed" more than 240 days ago. When did the IRS alert you to the mistake? If it was before about December 1, 2016, then you would pass the 240 day rule. Since you actually filed a return (and only made a mistake) you also pass the 2 year filing rule. The issue would be if there is any FTL. That I can't answer.
        Thank you just broke. I believe I meet the 3-2-240 rule!

        Comment


        • #6
          Based on the information I received from justbroke, I am including taxes I owe from 2012 in Schedule E/F to try and get them discharged. With that said, do I still include the monthly payment as a current expense on Schedule J? I was just recently approved for a payment plan to pay it back.

          Comment

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