Big tax refund last year, but not expected this year - will this slow our Ch. 7?

[Dee]

We received our biggest tax refund ever for 2009 - over $4,000. But our circumstances have changed drastically and I don't expect a refund for 2010. Last year we had deductions for home mortgage interest, property taxes, a cross-country move for a job, major medical expenses, etc. This year we are renting and will only be using standard deductions, so I'm not expecting anything back, unless it's a couple hundred bucks, at most. However, I've heard about trustees delaying cases until tax returns are filed to see if a refund comes in. Is there anything we should have ready in case this comes up at our 341? I'm thinking a copy of our Itemized Deductions from last year so we can point out the things we will not be able to claim this year, but anything else??

[tobee43]

i believe it depends when you file...HMM...one of our mods did a thread on this exact subject...stating oct is the month.

we also rec'd a huge refund in 2009....but most likely may even have to pay in 2010....but we filed in april...so it was of no concern to the trustee...i don't have the link to the thread, but if you do a seach you should be able to find it ...it was in the last 1 or 2 that HMM posted it. it may be helpful to you.

[tobee43]

We received our biggest tax refund ever for 2009 - over $4,000. But our circumstances have changed drastically and I don't expect a refund for 2010. Last year we had deductions for home mortgage interest, property taxes, a cross-country move for a job, major medical expenses, etc. This year we are renting and will only be using standard deductions, so I'm not expecting anything back, unless it's a couple hundred bucks, at most. However, I've heard about trustees delaying cases until tax returns are filed to see if a refund comes in. Is there anything we should have ready in case this comes up at our 341? I'm thinking a copy of our Itemized Deductions from last year so we can point out the things we will not be able to claim this year, but anything else??

http://www.bkforum.com/showthread.php?62848-Reminder-October-is-When-Trustees-Look-for-Tax-Refunds

here's the thread...hope it may help you.

[Dee]

Thanks for the thread. We're filing next week, so now I'm even more concerned. Drats.

[ccsjoe]

Dee, so long as you can show where your tax refund moneys from last year went plus you can show (simple math) that it will not apply for this year, you should be ok. Most they can do for this year is just keep you on their radar to see if your refund really is worth it or not. Sending them a copy of your tax return once you file should clear it right up.

[Dee]

Dee, so long as you can show where your tax refund moneys from last year went plus you can show (simple math) that it will not apply for this year, you should be ok. Most they can do for this year is just keep you on their radar to see if your refund really is worth it or not. Sending them a copy of your tax return once you file should clear it right up.

That makes me feel better. If they want to know where the refund went this year, I can just show them a copy of the vet hospital bill. Leave it to us to end up with a dog with a rare disease that can only be treated at a handful of universtity vet hospitals in the country. But it was worth it - she's fine now and should be able to lead a long, healthy life.

[tobee43]

Thanks for the thread. We're filing next week, so now I'm even more concerned. Drats.

ahhhhhh dee...i'm sorry...i just wanted you to see the thread because i wanted you to know what he said about the tax refund thing...i'm sure it will be ok.

[tobee43]

That makes me feel better. If they want to know where the refund went this year, I can just show them a copy of the vet hospital bill. Leave it to us to end up with a dog with a rare disease that can only be treated at a handful of universtity vet hospitals in the country. But it was worth it - she's fine now and should be able to lead a long, healthy life.

glad joe made you feel better than i did!!!!

[Dee]

glad joe made you feel better than i did!!!!

You and joe are great! I can't thank you enough for the advice and support you provide! If it weren't for this forum, I'm pretty sure I would have lost my sanity by now!

[tobee43]

You and joe are great! I can't thank you enough for the advice and support you provide! If it weren't for this forum, I'm pretty sure I would have lost my sanity by now!

thanks for that!

as some say...we just play it forward....this site has been the life line for many of us during the worse part of our lives. thru tears and fears...and even rejoice.

we're glad to give back...even if it's just a bit.


this is a wonderful place to ask questions, get opinions from those that have gone, are going through or considering bk. it's a great resource for everyone!


dee, make sure you let us know how things are going!!!

[Dee]

thanks for that!

as some say...we just play it forward....this site has been the life line for many of us during the worse part of our lives. thru tears and fears...and even rejoice.

we're glad to give back...even if it's just a bit.


this is a wonderful place to ask questions, get opinions from those that have gone, are going through or considering bk. it's a great resource for everyone!


dee, make sure you let us know how things are going!!!

I definitely will! We meet with our attorney tomorrow to go over final paperwork before filing. I'll be breathing a huge sigh of relief to get over that hurdle!

[tobee43]

I definitely will! We meet with our attorney tomorrow to go over final paperwork before filing. I'll be breathing a huge sigh of relief to get over that hurdle!

yes...dee make certain you let us know how it goes!!!! best of luck tomorrow and go in with confidence!! you can do this and will!