We finally had our taxes done for 2002 and 2003 and we will be getting a $3,200 refund. We have filed BK7 on March 2. Should be sending the info to the IRS this week. We are planning to exempt using our Wild card (Federal) unused Homestead exemption. We have not officially sent in our 2004 taxes but we will owe about $1,200. Questions..
Besides the exemption, is it not true that the trustee cannot take our refund because it is not for the year we are filing?
Can states override Federal exemptions? I am in PA
Should we file the 2004 taxes now or just wait? We are planning to list the refund as exempt and list the expected 2004 tax owed in the fBK form for Priority debts.
Thanks Diane143
Besides the exemption, is it not true that the trustee cannot take our refund because it is not for the year we are filing?
Can states override Federal exemptions? I am in PA
Should we file the 2004 taxes now or just wait? We are planning to list the refund as exempt and list the expected 2004 tax owed in the fBK form for Priority debts.
Thanks Diane143