The Internal Revenue Service Small Business/Self-Employed Division Feb. 21 released a memorandum providing interim guidance for processing individual and business Chapter 7 cases under new guidelines (SB/SE-05-0212-003).
Removal of Requirement.
The Feb. 14 memorandum explained that language in Internal Revenue Manuel 5.9.17.9(4) related to individual cases and IRM 5.9.17.11(1) related to corporate cases requiring the insolvency caseworker to wait six months after the bankruptcy petition is filed before closing a Chapter 7 case has been removed. In addition, the requirement in IRM 5.9.17.9(4) that an insolvency caseworker must also contact the trustee in a Chapter 7 individual case ...
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