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    Potential Tax Refund

    I had a business loss in a prior year but I have not filed my personal income tax amendment to reflect this on my return. There is probably going to be a good refund, but I don't know exactly how much right now.

    I want to file for Chapter 7 petition (California) in the near future because of personal guarantees I had made with the failed business mentioned above. Being that I haven't filed this amendment yet, should I file it now, or file it later when the Chapter 7 petition is filed? or should I file after it is discharged?

    If I file the return amendment after I file Chapter 7, what are the potential consequences?

    Thanks,

    Ben

    #2
    File the amendment now and then, see if your attorney can exempt any refund.
    If they can't, delay the bk filing until you spend the refund down.

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