Tax Returns

[Faith]

42 days past my 341 hearing. And still sweating, because the trustee asked for a bunch of information (my consumer credit card debt was pretty high).

But my question is this, I haven't filed my 2005 federal/state tax returns yet. I got an extension and actually just mailed them out. I am due about $7,000 refund but I am applying it all to next year, becase I am self-employed and sent in nothing this past year (too busy going bankrupt). Basically, the $7K represents what I should have sent in my first and second quarter and now I need to send in another $3+K.

But no one has asked for my return. I thought the trustee would try and snag it but he issued a no-asset report. Are they going to make me get a refund or can I do as I plan and just apply my refund to next years taxes (hehe, if not, I'm already in debt again).

It's one of those time when I'm a little afraid to ask for fear of stirring anything up.

[FilingOnMyOwn]

If the trustee said you are no asset, and he/she was satisfied with the documentation you provided, chances are your bk would go through without the trustee taking the return unless specified otherwise.

[Bobby'sGirl]

It belongs to Uncle Sam

If you entered the whole $7000 on line 46 of 1040A or line 74 of 1040 to apply that to next year's estimated taxes, just let the trustee try and get any back...it is as if it had been pulled out all year or you were making regular estimated payments. Relax, and just give them a copy of the taxes if they ask for them.

[Minnymouth]

Trustee would have a "hard time" taking money from the IRS.... he doesn't want to open that can of worms...... he will let it go..............

And he will be watching closely at this years taxes when you file them..... I would file them the same way and make it payable to IRS.....

[SinkingFast]

If the Trustee didn't mention your Income Taxes, you're good to go.

Just went thru that yesterday at the 341. Our BK won't close until the Trustee sees '06 Income Taxes. Our last couple of years have been shall we say "turbulent" so the Trustee wants to see a "normal" filing year.

Our attny told us to jack our exemptions for the remainder of the year. Pay in as close to $0 in Fed and State as we can. Save back what we would have paid thru payroll deduction in case we owe, and file ASAP next year.