Opinion ID: 2050973
Heading Depth: 3
Heading Rank: 2

Heading: Personal Finances

Text: 81. On January 2, 1998, Petitioner filed a voluntary bankruptcy petition with the United States Bankruptcy Court for the District of Maryland. BX C at attachment B; Tr. I 159. Schedule E of the petition reflects that Petitioner owed the Internal Revenue Service (IRS) $74,649, the Maryland Comptroller of the Treasury $10,175, and the District of Columbia Department of Finance and Revenue $11,668.21. BX C at Attachment B. 82. Petitioner filed his individual 1995, 1996, and 1997 federal tax returns on June 15, 1998. BX C at Attachment D. His 1995 return reflects a balance of $1,463 owed the IRS. BX C at Attachment D. His 1996 and 1997 returns show balances owed of $7,429 and $3,486 respectively. BX C at Attachment D. At the time of the hearing, he had not paid these balances, Tr. I 183 84, and estimated his debt to the IRS as $27,000. 83. Petitioner informed the Board that, as of January 2001, he was in the process of attempting to compromise the debt to the IRS. Petitioner's Affidavit. Petitioner is willing to pay approximately $35,000. Id. His church is willing to loan him funds to pay that amount. Id. 84. Petitioner filed his individual 1995, 1996, and 1997 Maryland tax returns on June 15, 1998. BX C at Attachment D. His 1995 Maryland return reflects a balance of $812 owed the Comptroller of the Treasury. Id. His 1996 and 1997 returns show balances owed of $995 and $825 respectively. Id. At the time of the hearing, he had not paid these balances. Tr. I 183-84. At the time of the hearing, Petitioner estimated his debt to the State of Maryland at $7,686 and his debt to the District of Columbia at $11,000. 85. Petitioner informed the Board in January 2001 that he had borrowed funds to pay the Maryland and District of Columbia tax obligations. Petitioner's Affidavit. He is repaying the loan at the rate of $250 per month for three years. Id.