[CLBS] Hope education credit

[Randal French]

I have never seen this issue raised.  I am not familiar with a Hope Education Credit, but I am guessing that it is a credit against income tax obligations arising from educational expenses.  Am I even in the ballpark?  While a Hope Education credit may be necessary for the education of the debtor, is it really necessary for the support of the debtor?  I think you would have a tough time equating it with the earned income credit, and that is the only tax credit that I am aware of that has been ruled as exempt.

I should have asked whether you are talking in the context of exempting a potential credit or a credit that has already been received, or whether you are talking in the context of an ongoing ch 13 in which the debtor wants to use the refund to pay for support or education.  In the latter situation, if the expenses are already included in schedule J and the education credit is not already included on schedule I, then I think you have an uphill battle to persuade a ch 13 trustee that your client ought to be able to include the hope education credit, or any other income from any other source, to use for ongoing predictable expenses that are in the budget.  If you have an unexpected expense, then you have a basis for persuading the trustee that, for any income not already accounted for in schedule J, the debtors have a reasonable and necessary need to use the unexpected and unbudgeted income.

I have an email program that seems particularly suited to lawyers.  I type "use" and the email program converts it to "sue."  If you find any place in which I use the word "sue" and it seems somewhat out of place or overly aggressive, please substitute the word "use" and see if that works better.  

Randy French
www.bauerandfrench.com


Bauer & French
Attorneys at Law
1501 Tyrell Lane 1P.O. Box 2730 PBoise, ID 83701-2730
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-----Original Message-----
From: clbs-bounces at admws.idaho.gov [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Aaron Tolson
Sent: Wednesday, April 18, 2012 2:34 PM
To: clbs at admws.idaho.gov
Subject: [CLBS] Hope education credit


Anyone successfully argued for a debtor to get to keep this as necessary for support of debtor?

--
Aaron J. Tolson
2677 E. 17th St. #300
Ammon, ID. 83406
208-228-5221

This a privileged communication.  Please advise if you received it in error.
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