NEWSFLASH! Trustee wants 2008 Taxes!

[Grider]

I just filed and im gettng my exemptions are $4k in Fla. if that's what is allowed how ca they take it? now im very worried,, I need that to move.

[jennordhavn]

If the 4000.00 is EIC ( Earned Income Credit) I don't believe the trustee can take it. It is treated the same as welfare benefits I believe.

I'm not sure if you were replying to me, but if so, I would actually OWE ~$4k to the IRS if I filed separately. I am not worried about the trustee taking anything because I exempted my tax refund with my wildcard. I don't qualify for EIC, I make too much money.

[Tom_Mi]

Question:

My estimated tax return is LISTED on my exemptions in the filing. If I get discharged with no mention of it by the trustee, does that guarantee he can't come back for the $$ later?

[soleprop]

if you have specifically listed the 200x tax return on your schedule, and you have applied an exemption that is not restricted from protecting income, and the amount of that exemption covers the larger percentage of your anticipated refund -- then yes, you are guaranteed that the trustee cannot have it.

[Hrdluck1]

Thanks for the reply's everyone. I am OK with getting less of a return. I just need something. If I file Married filing seperately and my wife gets the return will it be taken from me? I am in CA..

[FloridaGuy]

Hey Grider...

Just to clarify for you Just in case...
In Florida per Article X, Section 4 of the Florida Constitution you get a $1,000 exemption.

In order to qualify for the $4,000 per Florida Statute 222.25(4) you must not be claiming a homestead exemption, or be surrendering the home as part of the BK.

[debtmonster]

Hey Grider...

Just to clarify for you Just in case...
In Florida per Article X, Section 4 of the Florida Constitution you get a $1,000 exemption.

In order to qualify for the $4,000 per Florida Statute 222.25(4) you must not be claiming a homestead exemption, or be surrendering the home as part of the BK.

We're married and surrending our home. Does that mean we get to keep $8,000 worth of stuff when we file Ch. 7 in Florida? So we get to keep our furniture, HDTV, computers, etc without worry of them taking it away from us? At yard sale, I bet we'd be lucky to get $1,500 to $3,000 for everything.