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  • Irs B1 22a 1 Means Test

Get Irs B1 22a 1 Means Test

B 22A (Official Form 22A) (Chapter 7) (04/10) In re Debtor(s) Case Number: (If known) According to the information required to be entered on this statement (check one box as directed in Part I, III,.

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A means test determines if a person or household is eligible to receive some sort of benefit or payment. Means-tested benefits include many government assistance and state and federal welfare programs that measure a family's income against the federal poverty line.

Most people pass the means test simply because their “current monthly income” is low enough. If your “current monthly income” is no more than the specific dollar amount that is applicable to your state and size of family, then you do not need to go through the much more complicated expenses side of the test.

The first form, Chapter 7 Statement of Your Current Monthly Income (Form 122A-1), helps you calculate your current monthly income (CMI) and yearly income for bankruptcy purposes. You'll start by listing all gross income received during the six full months before your bankruptcy filing date.

The purpose of the means test is to see that if the debtor is abusing the bankruptcy system by filing Chapter 7 bankruptcy cases even though they could afford to pay at least some of their debts. Therefore, the means test is mainly testing the ability of the debtor to pay the creditor(s).

To weed out those who might be able to partially repay what they owe with a plan that restructures debt, the U.S. Bankruptcy Court uses a formula called a “means test.” The means test compares a debtor's income for the previous six months to what he or she owes on debts.

Income from all sources over the previous six months must be included as part of the Means Test calculation. That means both taxed and untaxed income, including wages, salary, tips, bonuses, interest, dividends, royalties, retirement income, unemployment and workers' compensation, and others.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232