when you file chapter 7 bankruptcy do the include your tax refund as income?
wouldn’t that be double dipping? if they did that then i would not qualify for chapter 7.
Posted September 4th, 2010 in Bankruptcy Q And A. Tagged: chapter 7.
wouldn’t that be double dipping? if they did that then i would not qualify for chapter 7.
Technorati Tags: chapter 7
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This is somewhat controversial, and different attorneys in different Federal Circuits handle it differently. Probably most typically, it is subtracted from your "disposable income" when it is withheld and added back in when you get the refund. Attorneys who really want to be very detailed about it might question whether all of your refund was actually earned during the 6 month look-back period, and may try to prorate it. That might or might not go over well with the particular court in your particular district. You need to ask your attorney, and whatever you read on the Internet is NOT universally true in all Districts of all States in all Federal Circuits. It does vary, in part because this is one of the "unsettled" pieces of case law since BAPCPA ("2005 Bankruptcy Reform").
September 4th, 2010 at 7:36 ammust be a big refund.
September 4th, 2010 at 7:36 ampeople filing bankruptcy is what brought the banks down…pay yer bills!
you ran ‘em up….you pay ‘em
September 4th, 2010 at 7:36 amNo, since the tax refund is amount of overpayment to the government. You should be talking to your bankruptcy attorney about this though they will guide you through the process.
September 4th, 2010 at 7:36 amYou have to show that you recieved it.
Just filed.
September 4th, 2010 at 7:36 am