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One last question (I hope)- Will the...

Resolved • Response time 13 minutes

5 Jun 2013

One last question (I hope)- Will the insolvency worksheet be adequate as a list of my liabilities and assets or should I prepare something else? Are they looking for a list of creditors?
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5 Jun 2013

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Tax Professional's response
5 Jun 2013
Lev
Lev
At this moment - the IRS is looking only for the insolvency worksheet - nothing else. As long as you are not specifically asked - no need to provide any additional information. What you need to do - provide a proof that you are insolvent - and the insolvency worksheet is your proof because it demonstrates how your insolvency 1s determined. However - if you feel that you will be asked for additional supporting documents - you may be proactive and attach more detailed explanation - but you are not required to do that. You may include a list of your debts and assets in additional to amounts reported on the insolvency worksheet. Do not send any documents if you was not asked.
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Lev
Lev
Retired
Avg. question only $32
Taxes, Immigration, Labor Relations
5 Jun 2013
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