My wife and I are filing mid September. My wife hasn't worked in over 2 years but will start again in a couple of weeks. Right now I claim 0 deductions on my paycheck. This year we got $5,000 back in tax returns. Does any recommend (or against) to up my claims to not get back as much in taxes next year? Will it look bad to change around filing time and will a large tax return next year be taken from us? Thanks so much.
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All income taxes are subject to be seized by the Trustee unless you find a way to exempt them. Especially a large sum......
Would I change my claims or amount of deductions, I did....... no problem from Trustee..... (I took it out of his eye contact, and back in my pocket)...
I know of no reason or law that states you can't change your dependent claims any time you want too....
Whether Trustee takes income tax return depends on several things: amount of refund, and whether a Chapter 13 or Chapter 7...... Chapter 13 is normally seized......... Chapter 7 can be seized if a large amount......
Hope this helpsMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different. -
Yes it does, thanks.Comment
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