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Taxes, EIC, Child Tax Credit, question

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    #1

    Taxes, EIC, Child Tax Credit, question

    Hi,

    I did a quick search and could not find the answer to this. We have 0$ taxable income for 2008. We are receiving the following:

    EIC = $2479
    Child tax credit = $3,205 (we have 5 children)
    Additional Tax recovery rebate (for our son born July 2008) = $300
    State tax grocery credit = $348

    We owe the IRS around $2,200 for Employer taxes for 2008.

    How much if any do we get to keep? Our lawyer told us a long time ago that we get to keep the EIC. I've put a call into him today but haven't heard back and we are anxious to know.

    Also, if the IRS just deposits the money into our account, and the trustee gets the money, do we write him a check or what?

    Thanks!
    Tags: None
    #2
    Not enough information here to answer your questions.
    Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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      #3
      What more do you need?

      Comment

        #4
        Did you file bankrupty? Have you calculated your exemptions?
        Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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          #5
          Yes, sorry we filed on December 4th. We have not been discharged (courts are very busy). I assume our exemptions have been calculated. We live in Idaho.

          Comment

            #6
            EIC = $2479
            Child tax credit = $3,205 (we have 5 children)

            I would expect that you get to keep the EIC, since Idaho has decided that this is a form of public assitance.

            I found some Idaho court decisions that say the child tax credit is not exempt. I would not expect to get the rest of it either.

            Also, the court is also only allowed to take the amount from before Dec 4, which is about 92% of your refund. So, you should get the entire EIC and about 8% of the remaining refund.

            What exactly is the $2,200? Is that taxes for tax year 2007?

            Also, if the amount is direct deposited, you will have to send the trustee a check. Also, don't spend any of it until the trustee decides what to do.

            Comment

              #7
              I don't know anything about Idaho exemptions but he should be looking to see if he has any unused exemptions available.
              Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

              Comment

                #8
                Originally posted by OhioFiler View Post
                I don't know anything about Idaho exemptions but he should be looking to see if he has any unused exemptions available.
                And quickly too - the amendment has to be done before discharge.
                Filed CH 7 9/30/2008
                Discharged Jan 5, 2009! Closed Jan 18, 2009
                I am not an attorney. None of my advice is legal advice in any way..

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