Providing copies of tax returns yearly
Just curious as to why copies of tax returns have to be submitted to the Trustee by the debtor each year. Example; my plan stipulates I can keep any refund $2,000 or less. But I assume any refund goes to the Trustee first & then he/she would forward on to me if it is $2K or under. So obviously the Trustee would be able to see/review my return then. It just seems like a waste of time having to send him a copy each and every year. Just curious..
-
-
The trustee can't see or view your return just by receiving a refund check. By actually viewing the numbers on your return they can see how much you earned for the year. A refund check is nothing but a dollar amount and does not indicate a particular income. Also, my refund check is always sent to me, never to the trustee.
The want to see your returns so they can see your income and things of that nature. It wouldn't be fair if your plan was based on, for example, you making $30k/year while you are really bringing in $50k. -
oh yeah it goes to the trustee first,so they can take their cut of the excess.In northeast TN we got to keep anything under $1500.the trustee sends us a check from her account after taking the difference.this year she gets $828 which goes into the plan.it also takes an extra month to get the refund back
Comment
Comment