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Consumer Bankruptcy Law and Practice: Listing of Provisions

Also available at www.irs.gov.

TABLE OF CONTENTS

Part 5—Collecting Process

Chapter 15—Financial Analysis

Section 1—Financial Analysis Handbook

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5.15.1.8 Allowable Expense Overview

5.15.1.9 National Standards

5.15.1.10 Local Standards

5.15.1.11 Other Expenses

5.15.1.12 Determining Individual Income

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Consumer Bankruptcy Law and Practice: 5.15.1.8 Allowable Expense Overview (07-24-2019)

1. Allowable expenses include those expenses that meet the necessary expense test. The necessary expense test is defined as expenses that are necessary to provide for a taxpayer’s and his or her family’s health and welfare and/or production of income. There are three types of allowable expenses:

• Allowable Living Expenses—based on National and Local Standards

• Other Necessary Expenses—expenses that meet the necessary expense test, and are normally allowed

Consumer Bankruptcy Law and Practice: 5.15.1.11 Other Expenses (11-22-2021)

1. Other expenses may be necessary or conditional. Other necessary expenses meet the necessary expense test and normally are allowed. The amount allowed must be reasonable considering the taxpayer's individual facts and circumstances. Other Conditional Expenses may not meet the necessary expense test, but may be allowable based on the circumstances of an individual case.

Consumer Bankruptcy Law and Practice: 5.15.1.12 Determining Individual Income (08-29-2018)

1. Generally all household income, including income that is exempt from tax on the Form 1040, will be used to determine the taxpayer’s ability to pay. Income earned by a taxpayer’s dependent child, claimed on the child’s Income Tax Return, would generally not be included in the taxpayer’s household income. However, if an independent adult child is living with the taxpayer and contributing to the household income used to pay living expenses, that adult child’s income may be included in a Shared Expense analysis.

Consumer Bankruptcy Law and Practice: A.2 Selected Provisions of Title 28 of the United States Code

Listing of Provisions

TITLE 28—JUDICIARY AND JUDICIAL PROCEDURE

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CHAPTER 6—BANKRUPTCY JUDGES

28 U.S.C. § 151. Designation of bankruptcy courts

28 U.S.C. § 152. Appointment of bankruptcy judges

28 U.S.C. § 153. Salaries; character of service

28 U.S.C. § 154. Division of business; chief judge

28 U.S.C. § 155. Temporary transfer of bankruptcy judges

28 U.S.C. § 156. Staff; expenses

28 U.S.C. § 157. Procedures

28 U.S.C. § 158. Appeals

Consumer Bankruptcy Law and Practice: A.3 Selected Provisions of Other Titles of the United States Code

Listing of Provisions

TITLE 18—CRIMES AND CRIMINAL PROCEDURE

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CHAPTER 9—BANKRUPTCY

18 U.S.C. § 151. Definition

18 U.S.C. § 152. Concealment of assets; false oaths and claims; bribery

18 U.S.C. § 153. Embezzlement against estate

18 U.S.C. § 154. Adverse interest and conduct of officers

18 U.S.C. § 155. Fee agreements in cases under title 11 and receiverships

18 U.S.C. § 156. Knowing disregard of bankruptcy law or rule

18 U.S.C. § 157. Bankruptcy fraud

Consumer Banking and Payments Law: Introduction and Listing of Provisions

This appendix reprints those selected provisions of the Uniform Commercial Code (UCC) Articles 1, 3, 4, and 4A and their official comments that are most often consulted in consumer cases involving checks and wires. Every state has adopted these four UCC Articles, but not every state has adopted the same version.

Article 1 was revised in 2001 and every state has adopted those amendments.

Consumer Banking and Payments Law: Section 1-103. Construction of [Uniform Commercial Code] to Promote Its Purposes and Policies; Applicability of Supplemental Principles of Law.

(a) [The Uniform Commercial Code] must be liberally construed and applied to promote its underlying purposes and policies, which are:

(1) to simplify, clarify, and modernize the law governing commercial transactions;

(2) to permit the continued expansion of commercial practices through custom, usage, and agreement of the parties; and

(3) to make uniform the law among the various jurisdictions.

Consumer Banking and Payments Law: Section 1-104. Construction Against Implied Repeal.

[The Uniform Commercial Code] being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.

Official Comments

Source: Former Section 1-104.

Changes from former law: Except for changing the form of reference to the Uniform Commercial Code, this section is identical to former Section 1-104.

Consumer Banking and Payments Law: Section 1-201. General Definitions.

(a) Unless the context otherwise requires, words or phrases defined in this section, or in the additional definitions contained in other articles of [the Uniform Commercial Code] that apply to particular articles or parts thereof, have the meanings stated.

(b) Subject to definitions contained in other articles of [the Uniform Commercial Code] that apply to particular articles or parts thereof:

* * *

(2) “Aggrieved party” means a party entitled to pursue a remedy.

Consumer Banking and Payments Law: Section 1-202. Notice; Knowledge.

(a) Subject to subsection (f), a person has “notice” of a fact if the person:

(1) has actual knowledge of it;

(2) has received a notice or notification of it; or

(3) from all the facts and circumstances known to the person at the time in question, has reason to know that it exists.

(b) “Knowledge” means actual knowledge. “Knows” has a corresponding meaning.

Consumer Banking and Payments Law: Section 1-205. Reasonable Time; Seasonableness.

(a) Whether a time for taking an action required by [the Uniform Commercial Code] is reasonable depends on the nature, purpose, and circumstances of the action.

(b) An action is taken seasonably if it is taken at or within the time agreed or, if no time is agreed, at or within a reasonable time.

Official Comments

Source: Former Section 1-204(2)-(3).

Consumer Banking and Payments Law: Section 1-304. Obligation of Good Faith.

Every contract or duty within [the Uniform Commercial Code] imposes an obligation of good faith in its performance and enforcement.

Official Comments

Source: Former Section 1-203.

Changes from former law: Except for changing the form of reference to the Uniform Commercial Code, this section is identical to former Section 1-203.

Consumer Banking and Payments Law: Section 3-103. Definitions.

(a) In this Article:

(1) “Acceptor” means a drawee who has accepted a draft.

2002 amendments (not widely adopted, see Appx. A, Introduction) added new paragraphs 2 and 3, as set out in this footnote.4

(2) “Drawee” means a person ordered in a draft to make payment.

(3) “Drawer” means a person who signs or is identified in a draft as a person ordering payment.

Consumer Banking and Payments Law: Section 3-104. Negotiable Instrument.

(a) Except as provided in subsections (c) and (d), “negotiable instrument” means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it:

(1) is payable to bearer or to order at the time it is issued or first comes into possession of a holder;

(2) is payable on demand or at a definite time; and

Consumer Banking and Payments Law: Section 3-109. Payable to Bearer or to Order.

(a) A promise or order is payable to bearer if it:

(1) states that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment;

(2) does not state a payee; or

(3) states that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.