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Means Test Calculator
The Best Case Means Test Calculator automates calculations, displays pop-up descriptions and puts Census Bureau income and IRS expense figures at your fingertips.
Means Test Setup
At the start, the Best Case Means Test Calculator asks a few questions about the debtor (such as the location of residence, household size, and income) to determine which IRS and Census Bureau numbers apply. We'll automatically look up and fill in the applicable state median income for your debtor.
To assist you in inputting the debtor's income into the Means Test, Best Case® Bankruptcy includes the Current Monthly Income (CMI) Calculator. The CMI Calculator allows you to easily enter and define your debtor's income and determine if there is a presumption of abuse. The CMI Calculator will then input the income into its proper field in Form 122. Negative income from a business or property will also be factored.
IRS and Census Bureau Data
For those clients required to complete the full Means Test, the Best Case Means Test Calculator automatically fills in applicable IRS living, housing, and car allowances, giving you a running total of disposable income. It handles all the math for you and transfers claim information from creditor schedules to the means test, clearly displaying each step involved and the outcome of the test.
Presumption of Abuse
After entering in your client's information, Best Case notifies you with a green face that you have NO Presumption of Abuse. The appropriate figures are calculated and Best Case informs that the Means Test is complete. It's that easy!
Form 122 ALL$
The new “ALL $” tab displays all the lines with dollar amounts in a compact format that allows you to quickly review the Form 122 data. Double click on a line item to see its corresponding entry on the form.
The "Omit Zero Amounts" check box will exclude all figures with "$0.00" entered in the corresponding field to allow for easier data review.
The "Copy" button allows a user to copy data (line number, line title, primary and co-debtor's numerical entry) to the clipboard to be pasted outside of the program.
The "Refresh" button will update the data displayed on this tab to reflect the numbers currently entered on Form 122 for this debtor.