tax transcript

UPDATE: 5/27/2015. IRS has closed this service due to theft of 104,000 accounts. The IRS has issued a IRS statement about this breach of security.
The IRS announced a new service today that allows direct download of at transcripts called Get Transcript-http://www.irs.gov/Individuals/Get-Transcript

Means Test Numbers Adjusted

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The formula that is used to measure income for bankruptcy purposes changed again. The numbers were adjusted May 1 and May 15, 2015.

Most Kansans fared better on the means test after the new numbers went into effect. In theory, the means test determines the type of bankruptcy a debtor file and now much must be paid back to creditors, if any.

New median income figures for Kansas for cases filed on or after May 1, 2015:

one $45,980 (from $45,246)

two $60,577 (from $59,610)

three $66,065 (from $65,010)

four $76,017 (from $74,804)

add $8100 for each family member over 4.

The living expense standards for household above the median income also changed.

 

Graphic Credit: Bill Brooks

New Means Test Numbers November 1, 2014

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New means test numbers go into effect for bankruptcy cases filed on or after November 1, 2014. Median income numbers go up for households of one, two and four persons. Oddly, the number goes down for households of three. For more information, see the … [Continue reading]

Bankruptcy Might Save Your Life

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Thought you might be interested in this: A new study finds that bankruptcy filers make more money and live longer than those who were denied such protection. http://for.tn/1u6bd1z … [Continue reading]

Bankruptcy Fee Increases

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The Judicial Conference of the United States has approved several bankruptcy fee increases starting on June 1, 2014. The new  fees will be: Chapter 7:  $335 (up from $ 306) Chapter 9: $1,717 (up from $1,213) Chapter 11: $1,717 (up from … [Continue reading]

Is an Inherited IRA Exempt in Bankruptcy?

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The National Consumer Bankruptcy Rights Center (NCBRC) has filed an amicus brief on behalf of the National Association of Consumer Bankruptcy Attorneys (NACBA) membership in the U.S. Supreme Court case of Clark v. Rameker (In re Clark), No. 13-299. … [Continue reading]

Child Tax Credit Not Exempt in Missouri

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A recent Bankruptcy Appellate Panel decision found that the debtor may not exempt her federal Child Tax Credit refund under Missouri’s exemption for “public assistance.” Hardy v. Fink (In re Hardy), No. 13-6029 (B.A.P. 8th Cir. Dec. 23, 2013) (notice … [Continue reading]

Unpaid Tuition Dischargeable

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The failure to pay tuition did not result in nondischargeable debt. So said the court in In re Oliver, No. 12-4185 (Bankr. S.D. Ind. Oct. 8, 2013). The college was ordered to release the former student's transcript in a bankruptcy court contempt … [Continue reading]

Means Test Figures Change Nov. 15

NEW MEANS TEST FIGURES have been announced by the U.S. Trustee Program for use with bankruptcy cases filed on or after November 15, 2013. Here are the Kansas income numbers based upon family size: 1 - $43, 793 2 - $57,502 3 - $65,394 4 - … [Continue reading]

Kansas Bankruptcy Courts Stay Open During Federal Government Shut Down

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The Kansas bankruptcy court is open for business even if the federal government shuts down. Cases may still be filed. Automatic stays still go into effect stopping collection. Help is still available. See how a government shutdown will affect … [Continue reading]

Kansas Bankruptcy Court Entrances Closed by Budget Cuts

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Only One Door Open to Public Only one entrance at each of the Kansas bankruptcy courts is now open to the public. All other doors at the courthouses are closed and locked to save money on security staffing because of budget cuts as of June 3, … [Continue reading]

Pay Your Credit Cards 0% in Chapter 13

But I want to pay my debts....I just can't do it at credit card interest rates. What you want, then, is Chapter 13. If the credit card company won't agree to an interest rate that you can handle, you can impose a Chapter 13 repayment plan on … [Continue reading]

Why Your Chapter 13 Bankruptcy Was Dismissed (And How To Avoid It)

Filing a Chapter 13 bankruptcy can feel like a brand new world. Unless you do your share, it won't last for long. Each month, thousands of people from around the country look to the bankruptcy court to stop a foreclosure, forestall a repossession, … [Continue reading]

New Way to Pay Your Topeka Chapter 13 Bankruptcy Payments

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  There is a new way to pay your bankruptcy payment to the Topeka chapter 13 trustee. Jan Hamilton Trustee has contracted with TFS Bill Pay so you may send money to the trustee electronically. This is a service through a third party. It … [Continue reading]

New Less Paperwork Mortgage Mod Program Starts July 1

Washington, DC – The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will offer a new, simplified loan modification initiative to minimize losses and to help troubled borrowers avoid foreclosure and stay in … [Continue reading]

Kansas Median Income Increases April 1, 2013

New median income data for bankruptcy cases filed on or after April 1, 2013, has been released by the U.S. Trustee Program. KANSAS 1 earner  $42,577 2 people $56,851 3 people $65,907 4 people $76,402 For cases filed on or after … [Continue reading]