2009 Taxes

[jlh636]

Hi everyone, I filed chapter 7 on July 2 and had my 341 hearing on Aug 6th. At my hearing the Trustee asked general questions, and after about 5 minutes said I was free to go. Now my question is, do I send them my 2009 taxes next year when I file? He made no mention of it at my hearing and it wasnt listed on the info sheet he sent me prior to the hearing. Does anyone know when they notify that you will be required to send that in? I live in Arizona if that helps. Thanks!

[lrprn]

If your trustee didn't ask you for your 2009 return and you haven't received any written instructions from the trustee's office or the court to send in your 2009 tax return, then you don't have to do it.

If your prior tax returns supplied when you filed show you haven't been receiving large returns, trustees often won't ask for the current year's tax returns. They figure it's a blind fishing expedition without much chance of finding anything and it's not worth their time.

If you filed with a lawyer, ask him/her about this year's returns. But don't be surprised if you are told not to worry about it.

[cinderella]

Do I have to file taxes for the last 3 years?

I don't think I have ever gotten a tax refund and I owe a significant amount in State and Federal taxes.

I have filed all of my Federal taxes but I have not filed State taxes for the last 3 years and they have left me alone. I haven't filed my GA state taxes consistently and they have left me alone. I am sure I owe but I would rather file going forward and not dig up a large debt that I have to deal with right now. My attorney says I may not be required to file these in a chapter 7.

Has anyone ever hear of this?

[mom2three09]

I don't think I have ever gotten a tax refund and I owe a significant amount in State and Federal taxes.

I have filed all of my Federal taxes but I have not filed State taxes for the last 3 years and they have left me alone. I haven't filed my GA state taxes consistently and they have left me alone. I am sure I owe but I would rather file going forward and not dig up a large debt that I have to deal with right now. My attorney says I may not be required to file these in a chapter 7.

Has anyone ever hear of this?

You might want to start a new post on this subject (so you'll get more specific responses)...

But... yes, we had to show BOTH our Federal AND State tax returns for the past 2 yrs. I was late filing our 08 State but I did get it filed before filing for BK. My guess is that you'll need to file them. But I would just go with what your attorney tells you since he's the expert

[berrymom35]

[QUOTE=lrprn;313599]

If your prior tax returns supplied when you filed show you haven't been receiving large returns, trustees often won't ask for the current year's tax returns. They figure it's a blind fishing expedition without much chance of finding anything and it's not worth their time.

QUOTE]

How much is considered a large amount? We had to supply the trustee with our 08 return...and we got $1,800 back...I was just wondering if that was considered a lot or not enough for them to worry about!

[mom2three09]

[QUOTE=berrymom35;314378]

If your prior tax returns supplied when you filed show you haven't been receiving large returns, trustees often won't ask for the current year's tax returns. They figure it's a blind fishing expedition without much chance of finding anything and it's not worth their time.

QUOTE]

How much is considered a large amount? We had to supply the trustee with our 08 return...and we got $1,800 back...I was just wondering if that was considered a lot or not enough for them to worry about!

Ours are usually about $1700 and the trustee never said a word about our tax refunds, so my guess is you should be fine

[cinderella]

I prepared my State taxes for the past three years (I just have not mailed and filed them yet) I owe $2100, $1700 and $811 before interest and penalties! I owe IRS even more but I have filed all of those returns. I just dont want to deal with the State taxes at the moment and I am hoping if I file going forward, I just don't want to introduce a new debt right now for taxes.

[LSUTiger32]

Thanks to Katrina I have been getting some really large returns. I guess that means the TT will be coming after mine.

[OhioFiler]

There is no federal law requiring the filing of state tax returns prior to filing bk. Your local rules may be different.

[OhioFiler]

Thanks to Katrina I have been getting some really large returns. I guess that means the TT will be coming after mine.

What you have to be careful of is the TT dividing your refund by 12 and adding that amount to your DMI if you are using your actual payroll tax deductions from your paychecks on Schedule I.

If you think the TT will want your refund (8/12ths in your case), I would stop having federal tax withheld from paychecks pronto! Then your refund may be little or nothing.

[Mi Bankruptcy]

We are CH7 no asset with plenty of room left in our exemptions.

Schedule B
Anticipated 2008 Tax return $6,000

On Schedule C We listed:

We put "Anticipated 2008 Tax Return"
(Husb)11 U.S.C. 522(d)(5) $3,000
(Wife)11 U.S.C 522(d)(5) $3,000

Our attorney said not to worry about it because the trustee didn't take tax refunds. I said good.. Exempt it anyway. I read a case where the couple did not exempt their return and the court came after it later. They looked back at the record and said the trustee could take it because it was not exempted. We had plenty of room left over to exempt it.

[LuciluS]

Thanks to Katrina I have been getting some really large returns. I guess that means the TT will be coming after mine.

I would hope your Attorney exempted your 2009 Tax Return refund based on looking at your large refund from 2008.

Luci