Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Changed tax withholdings in CH 13, lowered amount of refunds to send to Trustee

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Changed tax withholdings in CH 13, lowered amount of refunds to send to Trustee

    I tried to search for this info, but couldn't find it exactly. I'm sorry if it has already been addressed and will try to keep it short.

    Our ch. 13 filed in Jan 2011 included back taxes for several years. We were advised to make sure our withholdings were adjusted so that we would never owe again. This we gladly did. Not having any idea how it would come out, we apparently overdid it, because for the first time in years, we did get a refund and it was over $5000 for our 2011 taxes. We were told that anything over $1600 we had to send to the trustee, which we did.

    Since we were also told that we should have our withholdings adjusted so that we came out even each year, but not owing. Since our withholdings obviously were too high, we adjusted them after the first year.

    For 2012, we only got back $3000 as a result of the change. Since the amount we sent to the Trustee would be dramatically less than before, and I didn't want to raise any red flags, we did not keep the entire $1600 and ended up sending only about $400 less than 2011 refund. I had planned to do another adjustment, but with 3 surgeries during the year, just never got around to it.

    For 2013, we again got about $3000, but really need to keep our $1600. I will send the rest to them, but it will only be about 1/2 what we sent on the first year. If we send it all, it will again be about the same for the 3rd year. We are only in a 40 month plan which would be about May of 2014. We did have a couple of extensions when I had my surgeries which will increase the # of months, but it will still be our last year to send in our returns.

    Is we keep our $1600 this year, will we have a problem with the Trustee in sending so much less than we did previously? Any advice will be greatly appreciated! And thanks!
    Ch13 filed 1/13/11, 341 held 2/17/11, Confirmed 3/23/11
    1% to unsecured creditors
    25 down, 15 to go! Thanks to all for your help here on the Forum!

  • #2
    If the Order Confirming your Plan requires you to send anything over $1,600.00 that is what you do. IMO you could have kept the $1,600.00 from the previous year (assuming the Order provided for such).

    Des.

    Comment


    • #3
      Thanks for the response Des. I was hoping that it would be ok. I just didn't know if there would be a problem since we changed the withholdings after a year into the ch 13. That would give the Trustee $1400. I didn't want them to think why it was about $3500 the first year, and now drops to $1400 in the last year. We don't need any problems so close to completing our plan in about 6 months!
      Ch13 filed 1/13/11, 341 held 2/17/11, Confirmed 3/23/11
      1% to unsecured creditors
      25 down, 15 to go! Thanks to all for your help here on the Forum!

      Comment


      • #4
        Has anyone had any experience with changing withholdings after filing? I thought I saw something somewhere on here that you couldn't do that. We had already made the change at that time because we had purposely over withheld to make sure we didn't owe again. That was the one thing the Trustee asked what we were doing to be sure never happened again, owing back taxes. So we told her that we changed everything and should now get a refund each year. Thanks for any assistance. Thanks again Des.
        Ch13 filed 1/13/11, 341 held 2/17/11, Confirmed 3/23/11
        1% to unsecured creditors
        25 down, 15 to go! Thanks to all for your help here on the Forum!

        Comment


        • #5
          Des is well qualified to have answered your question. If your Trustee is not expecting large refunds and it has been calcualted into your Chapter 13, then that is normal and fine to not have an overpayment refunded. The Trustee is just trying to make sure a.) that you don't end up owing taxes during the Chapter 13, and b.) if there is some significant refund, that portion is given to the unsecured creditor pool for distribution.

          You may be over thinking this.
          Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
          Status: (Auto) Discharged and Closed! 5/10
          Visit My BKForum Blog: justbroke's Blog


          I am not an attorney. Any advice provided is not legal advice.

          Comment


          • #6
            Our plan states that we surrender anything over $1,500 in tax refunds to the trustee. Our first year we got a refund of $1,800. We adjusted our withholdings after that so our refunds would not exceed the $1,500 mark. Nothing in our plan states that we could not do that. Ironically we have had to pay the last two years losing both of our dependents. We had to pay $1,700 this year Had to adjust our withholdings again to offset that!
            Filed July 2009. Discharged 08/08/2014. Awaiting closing. We made it !!!! Woo-hoo!

            Comment


            • #7
              It must depend on what your pan states. Our plan forbids us from changing our withholding amount without getting permission from our trustee.
              Filed Ch 13 Feb 9, 2012, 341 meeting Mar 15, 2012, Confirmed Apr 5, 2012
              Anticipated freedom party Apr 2015

              Comment


              • #8
                Thanks all, I guess I'm just getting paranoid since we're getting to the end of this thing. I do appreciate all the responses. I do know that Des is more than qualified to answer, I have seen his replies on many posts and they are always very informative. Thanks again.
                Ch13 filed 1/13/11, 341 held 2/17/11, Confirmed 3/23/11
                1% to unsecured creditors
                25 down, 15 to go! Thanks to all for your help here on the Forum!

                Comment

                Unconfigured Ad Widget

                Collapse
                Working...
                X