Which form shows previous year's tax refund?

[Walter]

I think/hope this is my very last question.

While completing the forms and checking them all over, it dawned on me that we didn't show any tax information; for 2010, if the debtor is due a tax refund, I believe this is shown on schedule B as an asset.

However, how to do we handle any refund/payments for the previous year?

Would this be added to the income shown on Form 22 Means Test? Given that there is no income, we only completed a couple of lines on Form 22 and skipped the lion's share, so didn't see a place to enter this information...and now thinking I need to itemize it out.

They paid like $400 federal and received about $500 state, netting out to just over $100 and some change. Though a nominal amount, I was thinking this might be something the Trustee looks for and wasn't sure where this information should go.

[Walter]

maybe we don't list it on Form 22?

[Walter]

If anyone sees this and knows how to treat previous year tax refunds, please let me know...mailing the final packet to the debtor tomorrow, so hoping I got this one right.

If not, the amount is so nominal and the debtor's income is 100% exempt, so I hope the Trustee would just overlook it or force us to revise the form if push came to shove on this one...really doesn't make a difference in the grand scheme of things.

[SMinGA]

I *think* the means test considers everything you receive - monetary gifts, regular income, tax refunds, etc. - but just the 6 months prior to filing. So a refund you received in the first few months of 2009 would not belong.

[Walter]

I *think* the means test considers everything you receive - monetary gifts, regular income, tax refunds, etc. - but just the 6 months prior to filing. So a refund you received in the first few months of 2009 would not belong.

Ahhh, yes, my mistake. I can't keep them all straight now after living these forms for weeks, if not months.

I should have asked about Form 7 - Statement of Financial Affairs, as #2 asks for 2 years worth of income, which would cover the receipt of a couple small tax returns...



State the amount of income received by the debtor other than from employment, trade, profession, operation of the
debtor's business during the two years immediately preceding the commencement of this case.

[SMinGA]

For that, my attorney just used copies of our income tax returns/W2's and submitted gross income. Did not add in the child tax credits, etc.