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Tax return or not???

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    Tax return or not???

    Assume someone filed a Chapter 7 in July of 2007, was discharged and closed Oct/Nov. 2007.
    Does this individual have to submit his/her tax return that he/she will file on April 15 of this year to the trustee?

    #2
    It depends...I think nearly ALL trustees will tell you if they want the tax return or not. There is no general rule that applies to every district.

    Comment


      #3
      They will look at prior year returns and see if you got a refund and how much. Then bounce that against your income for the petition year. If the amount looks like it's something they can sink their teeth into, they could hold up a petition and recoup some of the refund. It all boils down to what the trustee feels is worth his/her time to go after.

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        #4
        Ask your attorney. In some states you have enough wild card exemptions to exempt it.
        In other districts the Trustee just does not take them, while others do. Your attorney should know.
        <<I am NOT an attorney, my comments are anecdotal only. Contact an attorney for advice>>
        FINALLY DISCHARGED 92 DAYS AFTER THE 341! A NEW START!!!

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          #5
          Taxes...do we get to claim this?

          sorry I accidently posted to the wrong place...oops!
          Last edited by inseriousdebt; 01-27-2008, 04:31 PM. Reason: misplaced....sorry!

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            #6
            I would really doubt it as you are already closed.

            In order to take your refund your case would have to be reopened, you would need to be made an asset case and then the funds would need to be distributed.

            I really doubt your trustee will go through the troublt to reopen a closed case. If they were interested in your refund they could have discharged you but not closed the case until they saw your tax return.
            Filed: 10/26/2006
            Discharged: 03/05/2007
            Closed: 5/19/2008 - Asset case due to balance transfer and income tax refund

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