Louis Fusaro - Page 12

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                    SEC. 6823(f).                                                     
                         (1) Place for filing.--The notice referred to                
                    in subsection (a) shall be filed--                                
                              (A) Under state laws.--                                 
                           *    *    *    *    *    *    *                            
                                   (ii) Personal property.--In the                    
                              case of personal property, whether                      
                              tangible or intangible, in one office                   
                              within the State (or the county, or                     
                              other governmental subdivision), as                     
                              designated by the laws of such State, in                
                              which the property subject to the lien                  
                              is situated, except that State law                      
                              merely conforming to or reenacting                      
                              Federal law establishing a national                     
                              filing system does not constitute a                     
                              second office for filing as designated                  
                              by the laws of such State;                              
                              (B) With clerk of district court.--In                   
                         the office of the clerk of the United States                 
                         district court for the judicial district in                  
                         which the property subject to the lien is                    
                         situated, whenever the State has not by law                  
                         designated one office which meets the                        
                         requirements of subparagraph (A); * * *                      
          The situs of personal property held by the taxpayer, whether                
          tangible or intangible, is the residence of the taxpayer at the             
          time the notice of Federal tax lien is filed.  Sec.                         
          6323(f)(2)(B).  In this case, the pension plan is personal                  
          property.  Therefore, the situs of the pension plan is the State            
          where the taxpayer resides and not the State where the pension              
          plan is administered.                                                       
               Under the Bankruptcy Code, 11 U.S.C. sec. 522(c)(2)(B)                 
          (2000), any property exempt from administration as part of the              





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Last modified: May 25, 2011