Keywords: means test . income . CMI .
Means Test > Income > CMI six month window Income: CMI six-month window: When is income "received?" When earned? When paid?15 Cases , IssueID 15 |
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Ch 7 Means Test |
Ch 13 Means Test |
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Topic Description:Current Monthly Income Lines of Cases:
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Stock rights paid out in post-petition IPO may be included if earned pre-petition.
income tax refunds are property of the estate to the extent they are attributable to prepetition income
Cash advances as current income. Court found that income is that which is "received" during six month period regardless of when it is "derived".
The six-month period under Sec 101(10A)(A)(ii) is measured back from the date of the hearing at which determination of current income is made and not some period chosen in the abstract.
(annual bonus received within six months of the petition may not be prorated over twelve month period
(annual bonus received within six months of the petition may not be prorated over twelve month period
(Debtor held to have received income from premature distributions from 401k when withdrawn from the retirement account
The court found that an annual bonus was received within the 6 months pre-petition, so it was rightfully fully included in CMI (not prorated over the year).
"Whether income is included in CMI is determined by when the debtor receives funds, not when they are earned."
Stock rights paid out in post-petition IPO may be included if earned pre-petition.
income tax refunds are property of the estate to the extent they are attributable to prepetition income
Cash advances as current income. Court found that income is that which is "received" during six month period regardless of when it is "derived".
The six-month period under Sec 101(10A)(A)(ii) is measured back from the date of the hearing at which determination of current income is made and not some period chosen in the abstract.
(annual bonus received within six months of the petition may not be prorated over twelve month period
(annual bonus received within six months of the petition may not be prorated over twelve month period
(Debtor held to have received income from premature distributions from 401k when withdrawn from the retirement account
The court found that an annual bonus was received within the 6 months pre-petition, so it was rightfully fully included in CMI (not prorated over the year).
"Whether income is included in CMI is determined by when the debtor receives funds, not when they are earned."
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When you read a case, check to make sure that the case's decision applies to your local district. Do this by looking at which court has decided the case -- either the U.S. Supreme Court, a court of appeal (listed here in large type), or a district court (listed in small type). Your local district court judge is not bound to follow the opinion of judges from other district courts, but often they look to these cases for advice. Your local district, however, is bound to follow decisions in cases from it governing circuit court. You'll see fairly few Supreme Court case here, but those cases are also binding on all districts."
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