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What do you have to do with your tax return money if filing chapter 7?
Wiki User
∙ 19y ago
You should wait until your refund is received and be sure to spend it on necessities or items that would be exempt anyway. Never file right before a large refund is due, the trustee will take it and apply it to your debt. In some cases you might have to wait to file Chapter 7 for quite a few months in order to protect your refund. For instance, if you feel the pressure to file in the fall, but are expecting a refund after the new year that would be a span of up to four or five months. Is it worth it to wait? Some people can't take the creditors hounding them an extra few months. Those persons might be better off just giving up the refund to the trustee.
Wiki User
∙ 19y ago
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Should you wait to file chapter 13 after tax refund?
Either way they will want a tax return filed before filing for chapter 13. If you are expecting a refund then they will seize it if it is after so to keep the money file first and wait for the return, it will be considered as part of your income. If you owe it is better to know the amount before filing.
What exactly is filing tax returns online?
Filing your tax return online is done through electronic submission to the IRS. This method is much faster than filing a paper return and you can get your return money much faster.
How much money can you earn without filing a tax return?
17000
When filing for the federal income tax return do you have to attach schedule a for the state income tax return?
No, when filing for the federal income tax return, you do not attach the Schedule A for the state income tax return.
What married couples wishing to file a single tax return choose which filing status when filing a federal income tax return?
Married filing Jointly
What form do you file when filing for the state income tax return?
When you are filing for the state income tax return, you will fill form 1040.
What is the fed tax refund?
Federal tax return is when the government asks you to pay a certain amount of money when filing your taxes. However due to an error in the calculations or exemption rules, the government can return some of this money in the form of a tax refund.
Why can a trustee take your income tax return if you are filing a chapter 7 bankruptcy which relieves you of your debt and does the trustee give the money to the creditors?
The trustee may take the refund and distribute it to creditors because a tax refund is not considered an exempted asset under bankruptcy laws.
Is there a provision for Pa extension for filing?
Is there an extensio for filing Pa tax return?
Can you be jailed for not filing a tax return?
Yes you can be sent to jail for not filing a tax return because it is a criminal act. You can't be sent to jail for being unable to pay your tax bill.
Profession tax return filing due date?
due date of profennisanal tax return o
What is the deadline for filing taxes if you don't owe money?
As an individual taxpayer filing a 1040 federal income tax return and you do NOT have any income tax liability and OWE any income taxes on your correctly completed income tax return the final date to file would be October 15 2010.
