Most individual debtors filing for bankruptcy relief are required to complete either Official Bankruptcy Form 22A or 22C (Statement of Current Monthly Income and calculations). Bankruptcy Form 22A is the form chapter 7 debtors will complete for “means testing” purposes; Form 22C is the form chapter 13 debtors will complete. [The Official Bankruptcy Forms can be found on the Administrative Office of the U.S. Courts Web site.]
A debtor must enter income and expense information onto the appropriate form (i.e., Form 22A or Form 22C)and then make calculations using the information entered. Some of the information needed to complete these forms, such as a debtor’s current monthly income, comes from the debtor’s own personal records. However, other information needed to complete the forms comes from the Census Bureau and the Internal Revenue Service (IRS). Some of the allowable expense items required on Form 22A and Form 22C have been revised.
Effective January 1, 2008, there are new National Standards for five necessary expenses: food, housekeeping supplies, apparel and services, personal care products and services, and miscellaneous. Those updated standards can be found on the Internal Revenue Service’s website. Also on January 1, 2008, new standards take effect for Pennsylvania housing and utility expenses. The Pennsylvania standards can also be found on the on the Internal Revenue Service’s website. If the standards are not high enough to cover your actual budget then you will need to provide documentation as to what you really spend.
6 comments
Deciphering bankruptcy forms: Statement of Intentions
April 15, 2012 3:03 am
[...] Effective January 1, 2008, there are new National Standards for five necessary expenses: food, housekeeping supplies, apparel and services, personal care products and services, and miscellaneous. Those updated standards can be found on the Internal Revenue Service’s website. Also on January 1, 2008, new standards take effect for Pennsylvania housing and utility expenses. The Pennsylvania standards can also be found on the on the Internal Revenue Service’s website. If the standards are not high enough to cover your actual budget then you will need to provide documentation as to what you really spend.Source: deltalawgrp.com [...]
Updated Bankruptcy Standards For Necessary Expenses, Housing and Utility Expenses
April 16, 2012 8:39 am
[...] Effective January 1, 2008, there are new National Standards for five necessary expenses: food, housekeeping supplies, apparel and services, personal care products and services, and miscellaneous. Those updated standards can be found on the Internal Revenue Service’s website. Also on January 1, 2008, new standards take effect for Pennsylvania housing and utility expenses. The Pennsylvania standards can also be found on the on the Internal Revenue Service’s website. If the standards are not high enough to cover your actual budget then you will need to provide documentation as to what you really spend.Source: deltalawgrp.com [...]
Maria
April 16, 2012 1:50 pm
Sole propriety and sdhecule C Business income tax Profit and loss sdhecule is for you to use as a taxpayer with your own self employed income and expenses.You and your would be the same individual taxpayer for this purpose.THEY WERE PAID IN THE TAX YEAR 2010 at all?Wow what a mess you have really created for yourself claiming and deducting your supposed to have been qualified ordinary and necessary business for the previous tax year 2010 when they were not even paid in THE YEAR 2010.And now at this point in time in your life you are actually realizing that have done completed and signed and incorrectly filled out 1040 income tax return that you filed to the IRS and also that you have already received a income tax REFUND for this incorrectly completed 1040 income tax return.I really believe that the IRS will will be taking care of this problem for you at this time in your life and you should also be consulting with your trustee of your bankruptcy estate account at this time in your life.Hope that you find the above enclosed information useful. 0626/2011
How To File a Chapter 7 Bankruptcy Without a Lawyer
April 17, 2012 2:32 pm
[...] Effective January 1, 2008, there are new National Standards for five necessary expenses: food, housekeeping supplies, apparel and services, personal care products and services, and miscellaneous. Those updated standards can be found on the Internal Revenue Service’s website. Also on January 1, 2008, new standards take effect for Pennsylvania housing and utility expenses. The Pennsylvania standards can also be found on the on the Internal Revenue Service’s website. If the standards are not high enough to cover your actual budget then you will need to provide documentation as to what you really spend.Source: deltalawgrp.com [...]
Minnesota Bankruptcy: Avoiding Creditors Does More Harm than Good
April 17, 2012 8:46 pm
[...] Effective January 1, 2008, there are new National Standards for five necessary expenses: food, housekeeping supplies, apparel and services, personal care products and services, and miscellaneous. Those updated standards can be found on the Internal Revenue Service’s website. Also on January 1, 2008, new standards take effect for Pennsylvania housing and utility expenses. The Pennsylvania standards can also be found on the on the Internal Revenue Service’s website. If the standards are not high enough to cover your actual budget then you will need to provide documentation as to what you really spend.Source: deltalawgrp.com [...]
After Bankruptcy: Wisconsin Bankruptcy Forms
May 4, 2012 12:31 pm
[...] Effective January 1, 2008, there are new National Standards for five necessary expenses: food, housekeeping supplies, apparel and services, personal care products and services, and miscellaneous. Those updated standards can be found on the Internal Revenue Service’s website. Also on January 1, 2008, new standards take effect for Pennsylvania housing and utility expenses. The Pennsylvania standards can also be found on the on the Internal Revenue Service’s website. If the standards are not high enough to cover your actual budget then you will need to provide documentation as to what you really spend.Source: deltalawgrp.com [...]