For those who have had 341 meeting...

[FLGirl]

Did you have to fill out a tax paper where you will be required to turn over any tax return you get next year to the court?

[butterflyness]

I didnt, and if i wa supposed to, no one told me

[ducksinarow]

Praying I don't have to. If I do, we will lose our house and land because we use that money to pay our taxes every year!!!

[discharged]

Our 341 was March 1, I believe...we didn't do our taxes at that time since weren't expecting a refund anyway...the Trustee asked if we did our taxes and expecting a refund, we said "no" and "no". He said we had to figure them, then give him a copy within 7 days to see if we were getting any refund. We owed $700, so no paper to fill out to surrender a refund. Although we're making payments still.

[WorkinOnit]

[sunshine08]

We were only asked where our money went. Nothing was mentioned about 2005's or anything else. He knew he caught me off guard, but I think he could tell I was telling the truth.

[Lightning]

Praying I don't have to. If I do, we will lose our house and land because we use that money to pay our taxes every year!!!

That's a pretty dangerous way to set up your finances. Why don't you have an escrow account with the bank?

[hhou812hh]

That's a pretty dangerous way to set up your finances. Why don't you have an escrow account with the bank?

I was actually thinking this too. Not busting b@lls, just hate to see honest, hardworking people be a few bucks away from losing their home.

I still feel for Minnie and wish I had advice for her. Her situation still sickens me.

Sorry FLGirl, don't want to go off track here...

[2US]

How do you know if the income tax return will be taken? Is there an official form that they would have you sign, or would they have told you that at the 341? Would I know by now, or is it an automatic thing that happens after the return is filed?

[AAAArt]

FLGirl, Assuming that you have already filed, I would suggest that you amend your exemptions now to get to keep more money to pay your taxes. I think that the law is pretty clear that if you file in certain months, I think Oct. - Feb. or something like that, then they will ask for and take your tax return.
OTOH, my understanding is that once you have filed, you could take your exemptions up to where nothing is witheld and use that to money saved from now til the end of the year to pay your property taxes, etc.
Do a search of this forum on "Tax refund" or something similar or check out "The Tactical BK Manual" (It's listed as a sticky under one of the threads. I'm sure that I've read in one of those sections the exact month, but sorry to say, under some circumstances they can and will take your tax return. Art

[StaciMM]

Personally, I used our wild card to exempt a possible refund-that might be why our trustee didn't ask us-he did ask others. (I listed it as an asset & an exemption.) We will probably get a small refund, certainly under $1000, because of the child tax credit. In general, we have very little withheld because we have 3 kids and the child tax credit covers us. I know the EIC is off limits to the trustee, I think the child tax credit is also. But, I didn't have the patience to think it thru a month+ ago!

We haven't made plans for that money but I'm thinking either pay extra on the vehicle or put it into a CD. When we'll be just starting on a savings plan, I don't want to do anything risky!