Advanced child tax credit

[Dannie0612]

Good Morning,

We currently turn in our tax return to the trustee. With the new bill that has passed regarding the child tax credit payments I am wondering if we will be able to take advantage of that? We could really use the possible monthly payments.

[justbroke]

Welcome to BKForum.

If you're in a Chapter 13 then your child tax credit may be treated as regular income. I do not know how the bankruptcy trustees are going to deal with this. If Congress were smart, they should have excluded it as income for purposes of bankruptcy and especially in a Chapter 13.

[NoMoney30]

I'm wondering this myself...although I don't have to give my tax return to the trustee. I don't see why I would have to give it to him since I owe the government every year. Even with this tax credit, I would still owe money on my federal return. I owed them 1,900 bucks this year. I might just save it though for next year to help pay the tax bill.

Luckily, the stimulus money I just got paid for this years taxes.

[Clay3007]

In ohio i have to turn over my tax returns to the trustee, but me and my wife get to keep $1500 plus and child tax credits we get which helps out.