Quick look back question

[Freddy03]

If I file on 7/12/11 - I know I have to calculate our income from Jan to June but on July 1st I will receive a paycheck for work performed in June. Do I include that check??

Thanks

[daylate]

I don't believe you do. It is income received that is important. Think of it this way in January more than likely some of the first pay received was for December but you still have to claim it. if you had to claim your July 1 check too that would be in effect reporting more than 6 months.

[AngelinaCatHub]

I don't believe you do. It is income received that is important. Think of it this way in January more than likely some of the first pay received was for December but you still have to claim it. if you had to claim your July 1 check too that would be in effect reporting more than 6 months.

I agree, however Freddy, you stated you are filing the 12th, but, you will receive money on the first for that. If, on your paperwork you declare one thing, at your 341 you will be asked if anything had changed (under oath) and it did. So, IMO you should list it or at least tell the Trustee. That even may be better as he may not even note that as a big deal. I would NOT take the chance to "ignore" an income. 'Hub

[debee]

The income reported on the Means Test is "current monthly income" which is defined in 11 USC 101:

"(10A) The term “current monthly income”—
(A) means the average monthly income from all sources that the debtor receives (or in a joint case the debtor and the debtor’s spouse receive) without regard to whether such income is taxable income, derived during the 6-month period ending on—
(i) the last day of the calendar month immediately preceding the date of the commencement of the case if the debtor files the schedule of current income required by section 521 (a)(1)(B)(ii); or

[daylate]

I still think that you don't have to report it or tell it. If that were the case, every filer who received a paycheck(s) after filing would have to report it at their 341. Now if it was a paycheck for a 100k job that you just started then maybe that is a different situation but I believe that would be adequately covered in your Schedule I. I vote no need to mention it.

[Freddy03]

From what my attorney tells me is that I have to report all paychecks received 6 months from the filing month. So if I file in July it would be all paychecks received June, May, April, March, Feb and Jan.

So if I get a paycheck on July 1st it wouldn't be counted??

Thanks everyone.

[daylate]

Nope.

[tobee43]

we only had to submit the 6 months freddy, going back, NOT forward...and when we were at teh 341 were not asked if we rec'd anymore money, just about jobs.

i think you should be fine.

[SunshineGal]

It's not required to be counted on the means test, but your trustee might request copies prior to the 341.

[tobee43]

SG...nice to C you!!!!

yes, exactly, and although our atty said we didn't need anything additional, we brought everything but the kitchen sink for a "just in case" situation. it never came up...but we had more bank statements etc., just for back up.

[Freddy03]

SG...nice to C you!!!!

yes, exactly, and although our atty said we didn't need anything additional, we brought everything but the kitchen sink for a "just in case" situation. it never came up...but we had more bank statements etc., just for back up.

I will def bring it with me I just wasn't sure if it counted as income.

Thanks again everyone!

[tobee43]

you'll be fine!!!

[ruttie]

I had to report up to and including the day I filed. I also had to include the paycheck stub for the week after I filed, so they could see what we made the week we filed. The income exemptions is 75% of earned but unpaid income. I think since the amt. that would have been non-exempt would not have exceeded our exemption amt in the bank acct. anyways($300) per couple, there was no mention of it

[tobee43]

I had to report up to and including the day I filed. I also had to include the paycheck stub for the week after I filed, so they could see what we made the week we filed. The income exemptions is 75% of earned but unpaid income. I think since the amt. that would have been non-exempt would not have exceeded our exemption amt in the bank acct. anyways($300) per couple, there was no mention of it

how and when did you do that....??? at your 341. i'm bit confused. you mean you were asked at your 341 to produce pay stubs for the week AFTER you filed...were you an asset case???

[sh9730]

I am also in AZ and that was my understanding from my atty as well...that it was money EARNED up to day of filing. It was an issue because much of my pay is commission based that I dont get paid until my company gets paid from the company. We werent sure whether to consider those commission "earned" even though I had not been paid for them. Luckilly in my employment agreement it explicitly says that commissions are not "earned" until the company is paid for them so I was ok with just what I had received. But, I havent had my 341 yet, so I ll have all my paystubs up to the current date with me when I go....just in case.