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with the monthly payment amount. No further alterna-
tives were discussed.
The rejection of your offer was based on the following:
Monthly income:
Wages: $16,903.00- Based on 3 year average
Rental Income: 296.00
Pension: 145.00
Social Security: 1,551.00
Total Monthly Income: $18,895.00
Allowable Monthly Expenses:
National Standards: $1280.00
Housing/utilities: 1318.00
Taxes: 1450.00
Court-ordered payments: 2195.00
Total Expenses: $6243.00
Excess Monthly: $12,652.00
Assets:
Bank Accounts: $ 1517.00
Real Estate:
Fair Market Value: $995,714.00
Quick Sale Value: 796,571.20-80%
Encumbrances: Not documented
Equity: 796,571.20
Total Net Realizable Equity: $798,088.20
Future Income: (12,652 x 48) 607,296.00
Reasonable Collection Potential: $1,405,384.20
Based on the evidence in the case file the District’s
decision to issue the Final Notice-Notice of Intent to
Levy and Notice of your Right to a Hearing is sus-
tained.
The notice of determination made no determination with respect to
the notice of Federal tax lien filed with respect to petitioner’s
taxable years 1990 through 1992, 1994, 1996, and 2002. See supra
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Last modified: March 27, 2008