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The quick answer would be no. Any money received prior to filing would not be included in your bankruptcy estate and this, not recoverable by the trustee. Any money still owed to you would be part of the estate and would be collectible. What I would want to know is if the money was completely spent or otherwise exempt on the day you filed. I disagree, and really don't understand the above. Any asset you had or had a right to (that would include everything you received, or things you have yet to receive - like tax refunds for overpayment of taxes) from earnings made PRIOR to your filing date are part of the BK estate. They are available for use to pay the liabilities or debts incurred or due from the PRIOR to filing periods. I do not understand why you would think a tax refund you received prior to filing BK would be exempt? The earnings from prior to BK, or savings accounts established prior to BK aren't. All your refund is - is an overpayment of the estimated payment of taxes for those periods...had you had the correct amount withheld (or estimated) for the tax...and had this same extra amount deposited and saved in a US Bank (instead of with the US IRS), you would agree it was available to the estate for creditors wouldn't you?

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โˆ™ 2008-07-15 20:14:49
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Q: Can the Bankruptcy trustee include as part of your estate Tax Refunds which were received prior to the filing of your bankruptcy petition?
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What can a trustee take during chapter 13 bankruptcy?

Money for your plan payment, tax refunds.


Will you get your tax refund if you file for bankruptcy?

Whether you are entitled to your tax refund will depend on what type of Chapter of bankruptcy you are filing and whether the bankruptcy exemptions can be used to protect the tax refund. If you are filing for Chapter 7 bankruptcy then you can generally keep the refund if the available state bankruptcy exemptions provide protection for it. If you are in a Chapter 13 bankruptcy you are typically required to turn over the tax refunds during the life of the Chapter 13 case.


How long do you have to be in bankruptcy before they take your taxes?

"Take your taxes"? Do you really mean "take your tax refunds, if there are any"?


How long should a person wait after a chapter 13 bankruptcy is dismissed to file income taxes for that year to guarantee to receive the refund?

You have to file your income taxes yearly regardless of whether you have filed for bankruptcy or not. Yes, IRS may garnish your refunds to pay toward your debts. If your bankruptcy is over however, you don't have to worry about that.


Will your tax refund be taken to pay back your debt if you file for bankruptcy?

Tax Refunds and ReturnsThere is no specific protection for tax refunds in bankruptcy. As such, the "wild card" exemption* is used to try to protect these funds as much as possible. Further, any portion of your tax refund that pertains to the "earned income credit" is also fully protect and yours to keep.In a Chapter 7 Bankruptcy, you may lose all or part of your tax refund due for the tax year in which you filed your bankruptcy. For example, if you file for bankruptcy in 2009, your Trustee may be entitled to all or part of your 2009 refund, which is due from the tax return that you will be file in 2010.If you file for bankruptcy today, you must provide copies of your tax returns for the years 2008, 2007, 2006, 2005, and you may have to provide a copy of your 2009 tax return when it is filed, to the Trustee. In a Chapter 13 Bankruptcy, you must also provide copies of your tax returns to your Trustee during the term of your Chapter 13 Bankruptcy. You will generally lose tax refunds during the entire term of your Chapter 13, not including any amount that can be protected by the "wild card".-------* The wildcard exemption is $1,000 per person. It allows you to retain up to $1,000 of assets (cash, accounts, property …) that is not otherwise protected when you file for bankruptcy.


Will private student loan companies go after a cosigner if you file for bankruptcy?

Gov't backed student loans are exempt from BKruptcy....they will come after you thru tax refunds or garnishment.


What happens to tax refunds in Minnesota bankruptcy?

As in all BKs, it becomes a part of your estate (to be divided among creditors). Delay your BK 'til after you blow your refund on babes, buds and beer.


You filed bankruptcy in the end of 2005 your case was discharged Feb 2006 closed April 2006 Trustee returned your 2005 tax refunds to you saying they have no interest in them you were wondering if yo?

It would seem that only your pre filing taxes would have been subject to the bankruptcy anyway - that is the 2005 one, so 2006 (post filing) should be most certainly clear too.


How do you get refund credit from Hastings?

According to their website all sales are final. As of July 13, 2016, Hastings will no longer be honoring refunds, exchanges or credit on accounts. They have filed for bankruptcy and that hearing is scheduled for August 2016.You will need to contact their attorney at this point to negotiate any refunds:Cooley LLPThe Grace Building1114 Avenue of the AmericasNew York, NY 10036-7798


Will the bankruptcy court seize your refund if you had a child tax credit filed in March of 2005 in Mississippi?

AnswerNo, I doubt it. Taxes are different than income. You get the child tax for having kids, and refunds for overpaying on your taxes.....Taxes which you have to pay on income. It isn't like an inheritance or extra profit.


I filed for bankruptcy on October 28 2008 my 341 Meeting was November 24 2008 it is now January 30 2009 if I complete my taxes today would the Trustee be entitled to those funds?

The question is not would the trustee be entitled to the refunds (which is what you mean, I think), but whether they were exempted in your petition (Schedule C), having been disclosed as an asset in Schedule B. If you had a lawyer and it was not disclosed and exempted, you may have a malpractice claim. If you did it yourself, you had a fool for a lawyer.


Can someone go into bankruptcy on child support?

AnswerNot in any state I know of. Bankruptcy is covered under Federal law; you cannot include child support in the list of debtors. Therefore, the obligation to pay child support continues without interruption. If the wayward parent continues to not pay, then the other recourse to collect can include several options open to the State and Federal governments: garnishment of salaries and/or withholding income tax refunds, which is then redistributed to the custodial parent. See your attorney for details.


Can you receive a tax return if you are paying back taxes through bankruptcy?

Probably not. The IRS is getting out of sending paper tax returns to taxpayers. They want you to file electronically now. That is for everyone, though, it has nothing to do with whether you are in bankruptcy or not. NOW.... IF you are asking whether you will receive a tax REFUND while paying back taxes then the answer is a DEFINITE "N-O"! The IRS is not going to give you money while you still owe them money. They will "apply" any refunds/credit due you to whatever taxes you still owe.


When you are in a chapter 13 bankruptcy and have to turn over your income tax refund does this include earned income credit?

Probably. It too is an asset. And, if you had savings or an investment with interest available, that too could be used. However, from discussions here it seems tax refunds are not always seized as part of the BK process.


Does a chapter 13 bankruptcy trustee increase your monthly payment if you get a higher paying job?

Not usually. Once the plan is approved, that's it. There are 2 usual exceptions, if you inherit a large amount or win a lottery. Tax refunds, which are not employment income, often have to be sent to the trustee. It will shorten your plan completion time.


What online colleges give refunds?

Any school will give a refund if you receive enough funding from whatever source that may be Federal Student Loans, Pell Grants, Private Funding/3rd Party funding, etc. However, you should not be looking at schools based on what school gives refunds. You do realize if you pull out federal loans there is no hiding from them. You cannot file bankruptcy on federal aid, and when you die any money you owe for them loans goes onto your husband/wife, and/or children. Be smart.


You had a student loan in Oklahoma in 1983 i now live in Arkansas I'm just now being notifide about it and have sense filled chapter 7 bankruptcy in 2004 can you include that?

1. You can not add anything that was not listed to a bankruptcy after it has been discharged. 2. 99% of the time they will never discharge a student loan. Student loans are loans to the government they want there money back end of story. 3. The good news is they will usually except any type of repayment plan as long as you talk to them about the situation. However, they will take your tax refunds or garnish your wages if you don't contact them and make an effort to pay them something.


You have filed bankruptcy and had back taxes put into your chapter 13 which you filed last year your question is now that the new year has come you have filed your taxes again and will be receiving a?

If you are asking whether you will receive an income tax refund while you still owe taxes, the answer is no. The IRS will require payments and keep your refunds until the bill is paid in full.


Is federal income tax refunds taxable?

No. Federal tax refunds are not taxable. In some cases, state tax refunds are taxable.


What is the duration of No Refunds DVD?

The duration of No Refunds - DVD - is 1.17 hours.


Just puchased 1500 tv from circuit city with 5 year warranty who will honor warranty if they go under in bankruptcy should you take the tv back get your money back?

If Circuit City goes under, chances are the courts will order a third party to handle the warranties, as one possibility. They could order refunds on the unused portion of your extended warranty, or some other arrangement. If you hear about Circuit City going bankrupt, I'd not hesitate writing the court handling the bankruptcy proceedings and bring the issue up with them. Most likely, Circuit City will go for a reorganization and close a few stores around the country in an effort to stay solvent.


Will the bankruptcy court take a tax refund?

It depends on the individual. Your lawyer should be able to answer this question the best because they know the situation. I had this same question. My lawyer told me that no they will not take tax refunds. However, if you owe student loans to the government they could take your refund. I had no problems receiving my tax refunds after filing bankruptcy.AnswerI believe if you get any type of money over $2000 the court will make you pay it on your debts, if you receive it within 6 months after the discharge. When I went to court, they told me if my taxes totaled more than $2000, we would have to pay it to the court. We only got $1200, so we got to keep it. AnswerThe answer to that question varies from jurisdiction to jurisdiction, and also depends somewhat on which Chapter of bankruptcy you are filing. In Southern Indiana, trustees have recently started taking tax refund checks of $1,000.00 or more in Chapter 7 cases. In Chapter 13 cases, some trustees take half regardless of the amount, and others take half if it is a sizable amount, and none if it is $1,000.00 or less. Also, each State has their own exemptions (which say how much property you can keep), so if you are in a State that lets you protect a lot of cash, then the threshold at which trustees seize tax refund checks may be higher. A good rule of thumb is to assume you're going to lose it. If you lose a $2,000.00 refund check but you discharge $20,000.00 in bills, you're still $18,000.00 better off, so forget the refund and move on with your life. And, if you luck out and get to keep it then you're pleasantly surprised, as opposed to expecting to keep it then being let down when the trustee takes it. AnswerYep-in Arizona-they took a $600 State refund, and a $1300 Federal refund. Oh well, as long as I am in the clear, what difference does it make? AnswerI'm confused by all the above. Bankruptcy is done under FEDERAL laws and in a FED Court. I should think that your State of filing, or residency, would have little if anything to do with the rules they follow -- except to say that the rules concerning property and such (like Arizona is a community property state), may have influence.When filing you must claim and attest to all of your assets and liabilities to the court. Obviously, penalties for not doing so correctly can and should be fierce. Forgetting an asset - and then keeping it - that just seems to be fraudulent and possibly criminal. An anticipated refund (tax or otherwise) would be an asset you must declare. I should think that like any other "free" asset, it may be used to satisfy creditors.It certainly should be...if I was a creditor and you asked the court to eliminate a debt you owed me....and it did - but at the same time allowed you to continue to look in the mail every day until Bank US sent you some cash you had stashed with them....that would be grossly unfair! You can imagine why: I can manipulate easily the amount of refund I expect, in anticipation of bankruptcy or even during, many ways: Decrease the number of withholding exemptions I request from my payroll (so more money is withheld), even make an estimated payment (or have additional amounts withheld from payroll) - which self employed or someone with non-employee income (like investment income, etc.) is required to do.More InputBankruptcy can either be a state or federal filing depending on whether or not the state has opted out of the federal bankruptcy procedure and the amount of debt. Tax refunds are levied depending upon the time difference between the bankruptcy filing and the receiving of the refund. In many cases the amount a federal refund is subject to levy will be pro-rated monthly. Please see the link for "Bankruptcy Action" to find out if your state requires federal or state bankruptcy filing or a choice between the two.More on the moreI'm fairly certain Bankruptcy is ALWAYS handled under Federal Law, at a Federal court. There is an entire level of Federal courts that only does bankruptcy and interestingly, it has major power and can trump and take control of matters even in other courts - like litigation. Like most all matters determined to be the purvue of the Feds, a State cannot opt out - or by essence over take a Federal right/obligation. (And when you consider operating Courts is expensive, they have little motivation to). The federal nature is needed, if for no other reason than to avoid (perceived or otherwise) preferential treatment of a state resident creditor/debtor to those who may also have something at stake in the filing but aren't a taxpayer or resident there. It would be making them subject to the dictates of a jurisdiction that they aren't supposed to be subject to - a Constitutional issue. However, maybe the confusion is that as in all Federal courts, there are many different DISTRICTS of the US Bankruptcy Courts, generally with District names of the primary area they cover. EX: US Bankruptcy Court of the Alabama District; US Bankruptcy Court Eastern District of New York, etc., etc.As in all Federal District Courts, some procedures, limits, and many precedents (generally decisions) are individual to that Circuit, and in fact, may be entirely contradicted in others. (When this becomes too problematic, it becomes a US Supreme Court matter to decide what should be universal).I would agree it makes sense that only that part of a tax overpayment that is from the pre bankruptcy filing period should ever be subject to the bankruptcy. (So, something along the way of if you filed bankruptcy half way through the tax year, only half of the overpayment is subject to bankruptcy). Note a Corporate taxpayer may have a different result because it has a "short tax year", with one starting and ending on the date of bankruptcy.Actually, the States can "opt out" of the Federal Exemptions for Bankruptcy actions. In Maryland, state law determines exemptions and collection procedures.The short answer is yes, the Trustee may attempt to go after your tax refund AND, depending on the state you are in, you may be able to get it Exempt (meaning, Trustee can't touch it).Generally, depending on what Chapter you filed under, the issue of your tax refund will be included in the "plan" decided by the court. They are decided on an individual basis but forfeiting a portion of your tax return if it is over a certain amount seems to be what is currently happening.


Can you get refunds on PlayStation network?

if you read it before you buy a DLC or game it says no refunds


After being discharged from the bankruptcy are you entitled to the upcoming year's tax refund if any?

Generally tax refunds are pro-rated using the number of months between the BK filing and the tax refund as a guideline, in some BK's it also depends upon the amount of the refund. The entire refund amount is seldom seized by the trustee unless the filer exceeds the exception amount established as the "wild card" or other allowable income.


What day will government accept refunds?

The IRS will start accepting claims for refunds on January 17th, 2012