My Tax Return

[fugazee]

I am a bit confused. My attorney told me that I would have to turn over my 2006 tax return to the trustee at my 341 meeting, but she also said it was because i was filing late in 2006. Well she told me this in Oct. and my 341 notice was received one week ago and it says that my Bancruptcy was filed on jan. 24 of 2007. does this mean that I don't have to turn it over to the trustee?? by the way my meeting in on Mar. 1st.

[no_it_all]

My attorney told me that I would have to turn over my 2006 tax return to the trustee at my 341 meeting

I can see it now:

Trustee: "Fugazee, where in hell is that tax return?"
Fugazee: "Ah, I spent it on luxury items, sir"
Trustee: "WHAT????, didn't your attorney tell you I wanted it??"
Fugazee: "Yes sir, but some guy on an internet forum said I didn't have to turn it over to you so I bought a Plasma TV"

Sheesh!!!

[SinkingFast]

The date sets the Trustee's proration. So if you indeed did not file until the end of 2006/beginning of 2007, the Trustee could well be entitled to take all of your income tax refund.

Tax refunds aren't free money. It's money you earned in the previous year and deferred getting in your paycheck. It's like using the IRS as a savings bank if you will. Your Refund is a cash asset. If you don't have enough Exemption to protect it, the Trustee can take it.

[Voltron1978]

I filed on 1-6-07 and at that time I had no idea what my refund would be. My attorney was able to exempt it up to $5,500.00

I filed my income taxes on 2-2-07 and found out that I will receive a refund for only about half of that amount; $2,700.00 (Most of it is from EIC and Child Tax Credit)

The Trustee said nothing about my '06 returns or my refund (exempted as stated above).

Your question confuses me though; does the Trustee want the return you filed or the refund?

[AMISLANDER]

I filed on 1-6-07 and at that time I had no idea what my refund would be. My attorney was able to exempt it up to $5,500.00

I filed my income taxes on 2-2-07 and found out that I will receive a refund for only about half of that amount; $2,700.00 (Most of it is from EIC and Child Tax Credit)

The Trustee said nothing about my '06 returns or my refund (exempted as stated above).

Your question confuses me though; does the Trustee want the return you filed or the refund?

You won't know if the trustee wants it till your 341.