Last years and Next year's tax returns ?????

[AfraidOfBK]

Already got my tax return direct deposited ($3600) and have spent some on computer, will be buying other necessary items like bunk bed, etc....

Will the trustee demand repayment if I file in June/July and I made the puurchases now? ALso, do I HAVE TO make the purchases quickly? should they be done now or can i afford to wait?

Next year, I will likely get a tax return but plan on changing my exemptions after discharge so that I get more in paycheck instead of refund...will trustee see this? wil they take 2010 tax refund? Does this mean they watch you for a year after BK, or are you free to spend what you want once youre done?

How long before I am free from 'supervised spending' ?????

[JoeBankrupt33]

They can't take a refund that you've received and spent before you file, but keep receipts to show where the money goes. They can only take money that you have or is owed to you.

As for next year's refund, they can take a prorated portion for the part of the year before you filed. So, if you file on June 1, they can take 5 months of your refund from Jan to May. For example, if you got the same $3600, then they could potentially take 5/12 of that, which is $1500.

I would wait until after your 341 to change your withholding, unless you can change it now without the extra money forcing you into a ch 13.

As for supervised spending, I'm pretty sure that ends at the day you file, but to be safe, I'd be careful through the 341. They do ask for bank statements that cover the day you file. Depending on what day that is, and what days the statement covers, then you might get in a mess.