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Bonuses CH 13 FL

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    Bonuses CH 13 FL

    I am on a CH13 case since 2021. I am not on a 100% plan. I received a large bonus from work ($15,000+). The plan states that the annual tax returns and any refunds to be turned into the Trustee. The plan doesnt mention anything about turning in bonuses. Do I need to turn it in? And if I keep it, would the trustee increase my pmt next year when they see the return? Can they dismiss my case for not disclaiming it? Any insights?

    thank you

    #2
    You're in Florida an in a less than 100% plan, you will likely need to turnover some or all of that bonus. You should immediately contact your attorney. You don't want to be at the end of your plan and the Trustee says that you're short.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #3
      During my Chapter 13, also not in a 100% plan, my Trustee wanted all of my excess tax return funds over $1,250. Three of those five years I got bonuses amounting to at least $15,000; my attorney told me to not report the money to the Trustee and just turn over my tax return the following year. As it turned out, additional monies from bonuses, raises, and one promotion, never increased my gross pay by over roughly 10% year over year. In the end the Trustee took monies from a single tax return to the tune of about $4,000, and not one dime from any other income.

      That said, I filed in New Hampshire, so this may be very different versus Florida.
      Chapter 13 (not 100%):
      • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank cum Bank of Southern California
      • Filed: 26-Feb-2015
      • MoC: 01-Mar-2015
      • 1st Payment (posted): 23-Mar-2015
      • 60th Payment (posted): 07-Feb-2020
      • Discharged: 04-Mar-2020
      • Closed: 23-Jun-2020

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        #4
        Definitely tell your attorney so it's handled correctly. You don't want to be in the position where they find out later and you did wrong.

        I am not an expert. I share my experiences in the Wonderful Wacky World of Chapter 13! Filed 3-30-18 Confirmed 7-11-18 Discharged 6-8-22

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