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Tax Return Question!

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  • Tax Return Question!

    I am new to this site so please bear with me!
    We received our 2009 tax return yesterday.(It took forever because my pregnant brain forgot to send in certain forms!)
    It was for $4400. We are in Texas and had been told that the check would go to the Trustee first, they would take anything over $2000 and send us what was left.
    So now I am unsure what to do! I called our attorney and the receptionist told us to call the trustee's office. I tried calling the person we deal with there and kept getting her voicemail. I really want to keep this money since I am pregnant, we just added my husband's 14 year old to the household and he had medical procedures done and this extra money would help with all of this.
    So what should I do-be a good girl and keep calling the trustee's office or pretend like I figured they sent it all to us! lol
    Btw, this is our first year of BK so we are new to this.

  • #2
    Make an appointment to speak with your atty. Face to face.
    Get mortgage modified: DONE! 7 months of back interest payments amortized, payment reduced over $200/mo
    (In the 'planning' stage, to file ch. 13 if/when we have to.)

    Comment


    • #3
      Originally posted by linda29 View Post
      I am new to this site so please bear with me!
      We received our 2009 tax return yesterday.(It took forever because my pregnant brain forgot to send in certain forms!)
      It was for $4400. We are in Texas and had been told that the check would go to the Trustee first, they would take anything over $2000 and send us what was left.
      So now I am unsure what to do! I called our attorney and the receptionist told us to call the trustee's office. I tried calling the person we deal with there and kept getting her voicemail. I really want to keep this money since I am pregnant, we just added my husband's 14 year old to the household and he had medical procedures done and this extra money would help with all of this.
      So what should I do-be a good girl and keep calling the trustee's office or pretend like I figured they sent it all to us! lol
      Btw, this is our first year of BK so we are new to this.
      Unless you're ordered to turn it over, I'd keep it. They have never taken any of my tax refunds, nor was I told to turn them over.
      Chapter 13 filed 08/07 60 month plan... $250.00 per month. 2 years to go!

      Comment


      • #4
        Originally posted by usmccop View Post
        Unless you're ordered to turn it over, I'd keep it. They have never taken any of my tax refunds, nor was I told to turn them over.
        Dangerous advice. Your trustee in your district may very well have different guidelines than the OPS trustee. In fact, the OP stated that she was told "The trustee would get the check first.."

        The OP needs to make a face to face appointment with the attorney that they hired. That's what we pay them for, to work for us.
        Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
        I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

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        • #5
          Your attorney should be the one doing the talking to the Trustee.

          Hold onto the funds at the moment. Come up with a list of expenses that you would be covering with your refund. If the Trustee sees that you are in need of the extra funds, you may get to keep it. If he/she thinks that you're going to spend it frivolously, then they'll probably take what they can.
          Chapter 13
          Filed - Feb 1, 2010
          341 - March 12, 2010
          Confirmed - May 27, 2010

          Comment


          • #6
            Originally posted by newbie2 View Post
            Dangerous advice. Your trustee in your district may very well have different guidelines than the OPS trustee. In fact, the OP stated that she was told "The trustee would get the check first.."

            The OP needs to make a face to face appointment with the attorney that they hired. That's what we pay them for, to work for us.
            It's not dangerous advice. If the trustee orders it then turn it over. If he or she wanted it so badly he or she would have already captured it. There's no law requiring to turn it over.
            Chapter 13 filed 08/07 60 month plan... $250.00 per month. 2 years to go!

            Comment


            • #7
              I agree with the advice to have your attorney do the talking. One of the first things my attorney said to us was to never speak to the trustee or his/her staff to always go to her first. I would think a few words from your attorney regarding the preganancy, etc... would be a good start to getting to keep the funds. We have never had to turn over any of our tax refunds, but I've seen several here that have.
              Chapter 13 Filed: 2/7/07 Confirmed: 5/1/07 Discharged: 3/2/2012 Closed: 6/2/2012
              130 out of 130 bi-weekly payments DONE
              100% Completed

              Comment


              • #8
                Hi Linda

                Here are what I understand:

                - Generally speaking, the short answer to your question is no, at least if you consult with an experienced bankruptcy attorney. It would be the safest to file for tax return and keep the refund BEFORE filing for bankruptcy.

                - The bankruptcy estate is calculated as of the date that you file your case. If you spend the refund on legit expenses, there would be no way for the trustee to claim it.

                That's generally speaking. But... there are some exceptions to almost any kind of rule.

                - You can't use that refund money to pay inside creditors, within one year prior to filing bankruptcy, on an antecedent debt. Inside creditors are such as friends, family, or business associate. The trustee could ask those to repay the money to the bankruptcy estate.

                - You pay down a loan or a large sum of money prior to filing bankruptcy 90 days.

                Usually you can have some sort of property exemption, including cash. Check with your attorney to see if Texas allows either federal or state exemption or state only exemption. There should be no problem for you if you have available exemption to cover the refund but it's not always the case if you have a lot of properties that need to be protected. It's always best to consult with an experienced bankruptcy attorney if you're concerned about your refund. He or she can advice you on exempted and non-exempted property before you file your case and risk losing any property. Good luck.
                Filed chapter 7 Jul 13, 2010 341 hearing Aug 12, 2010 Trustee's report of no distribution Aug 20, 2010 Discharged Oct 13, 2010 Closed Oct 28, 2010.

                Comment


                • #9
                  Is your case closed? If not amend your paper work and have your attorney add this:
                  We are CH7 no asset with plenty of room left in our exemptions.

                  Schedule B
                  Anticipated 2009 Tax return $4,000

                  On Schedule C list:

                  "Anticipated 2009 Tax Return"
                  (Husb)11 U.S.C. 522(d)(5) $2,000
                  (Wife)11 U.S.C 522(d)(5) $2,000


                  Never mind. I didn't see you were a CH13. Yeah.. talk to your attorney. You should still be paying him through your 13 plan. Remind him of his duties to get in touch with the trustee

                  Comment

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