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BK 13 and tax return issue.

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  • BK 13 and tax return issue.

    Filed BK 13 November 2013.Over median income and 5 year plan so i must turn over all federal and state returns/refunds to trustee.Owed both fed and state for 2013 tax year and have been making payments to federal and paid off state.Filed 2014 return and am owed refund;However fed took balanced owed on 2013 from refund.I emailed my attorney and am waiting on response.Any ideas on how the trustee will handle this? Southern Iowa district.

  • #2
    The Trustee will likely want the difference between your anticipated refund (shown on your Form 1040) and the offset from the IRS for the 2013 taxes. In my District, the Trustee requires proof of the offset, which you can show with the prior year income tax return. You may be able to show, since you were making payments to Federal, that the Trustee is only entitled to 2013 Taxes Due - 2014 Refund (which "may" allow you to recoup those payments).

    I have not personally had this situation although I did have taxes due post petition. It can be really tough to be in a tight Chapter 13 Plan and then have to make payments on taxes that are outside the plan (postpetition).
    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.

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    • #3
      Originally posted by mmptysmom View Post
      Filed BK 13 November 2013.Over median income and 5 year plan so i must turn over all federal and state returns/refunds to trustee.Owed both fed and state for 2013 tax year and have been making payments to federal and paid off state.Filed 2014 return and am owed refund;However fed took balanced owed on 2013 from refund.I emailed my attorney and am waiting on response.Any ideas on how the trustee will handle this? Southern Iowa district.

      I have almost the same situation. I filed BK 13 in 11/13 and owed Fed/State/Local tax in 2013, but just before my 341 meeting (just about a year ago) , I advised my attorney that we owed 2013 incomes taxes and I was advised to get our returns filed and copies to my attorney immediately. We were able to include the 2013 tax arrearage in our 13 plan and not pay payments. When my 13 was confirmed last summer, my trustee paid all past due tax in the plan in their entirety. I am also looking at a refund that in my district I may be able to keep thanks to my vaguely worded CO and what I know of practice in my district.

      Just curious about something else. Does your confirmation order specifically call for any of your tax refunds to be turned over to the trustee?

      Comment


      • #4
        Switch...my confirmation did state I have to turn over refunds..I'm not in a 100% plan.i filed 11-2013 and my 341 was few weeks later..of the top of my head I don't recall for sure but I think I was confirmed before end of the year.things in the BK court move quickly here in Iowa

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        • #5
          Thanks just broke...I'm hoping that's the response I get...

          Comment


          • #6
            Originally posted by mmptysmom View Post
            .i filed 11-2013 and my 341 was few weeks later...things in the BK court move quickly here in Iowa
            For me, it took over 3 months between filing and 341, no continuances. Maybe that is because I'm in a big city District (Philly) or maybe it's because I was behind on all my financial obligations and the statements/documentation of my financial mess for the trustee to review, if put together, would be as thick as a phone book.

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            • #7
              Originally posted by switch625 View Post
              For me, it took over 3 months between filing and 341, no continuances. Maybe that is because I'm in a big city District (Philly) or maybe it's because I was behind on all my financial obligations and the statements/documentation of my financial mess for the trustee to review, if put together, would be as thick as a phone book.
              It had nothing to do with the details of the case. The 341 is scheduled when your petition is filed on the first date available on the trustee's calendar. More a workload issue than the size of the city. I'm in a big city and my 341 was about 70 days after filing.
              LadyInTheRed is in the black!
              Filed Chap 13 April 2010. Discharged May 2015.
              $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

              Comment


              • #8
                We owed a substantial amount the year after we filed and the feds have offset every year since. We are on the final lap of our 13 and our trustee has not asked us for anything on the subject, yet.
                11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP

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