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2010 tax refund questions...

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  • 2010 tax refund questions...

    I filed for bk in 11/18/09 , had my 341 mtg 12/28/09 deadline to object is 2/26/10. I have an anticipated tax refund of about $5000. I have not filed my tax return to receive my refund but i am wondering if i should file for my refund before my bk is discharged or if it better to wait until after the discharge or if it doesnt matter. My attorney , nor the trustee indicated they woud take my refund ... ??? what should i do??? any opinions are appreciated! Thanks in advance

  • #2
    Originally posted by luvu283 View Post
    I filed for bk in 11/18/09 , had my 341 mtg 12/28/09 deadline to object is 2/26/10. I have an anticipated tax refund of about $5000. I have not filed my tax return to receive my refund but i am wondering if i should file for my refund before my bk is discharged or if it better to wait until after the discharge or if it doesnt matter. My attorney , nor the trustee indicated they woud take my refund ... ??? what should i do??? any opinions are appreciated! Thanks in advance
    You will have to file and they put a deadline on me for my 2009 taxes of 2/15 of this year. You will likely get keep a small piece representative from 11/18 to the end of the year......hopefully. Of course they all do it different but you need to file and when you do it will not likely matter. Did they give you information at the 341? That's when the TT told me he wanted to see my returns.
    New Orleans: Home to the World Champion Saints, the biggest enviromental disaster and the biggest natural disaster in the history of this nation. Proud to call it home!

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    • #3
      If the trustee has his/her sights on your refund it won't matter when you file. The same is true if they do not have their sights on your refund. I see no reason to delay filing.
      Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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      • #4
        My chapter 7 case was discharged on 2-8, and was closed a few days later, trustee never asked for my 2009 return, so I just filed and will recieve a $6000 refund. I plan on putting most of this refund into my savings, just in case tt wants it. But since case is closed and no mention of having to report it, I am pretty sure it will be mine to keep

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        • #5
          I'll just passing an info I was told by a moderator here. The key is at the 341. If they ask you for a copy of your 2010 tax documents, then they are eyeing the refund. Big Question is Have you exempted it on your petition? And most important, since your 341 was way back in december, did your trustee issued a Report of No Distribution already? If he has not yet, then the panel trustee who administers the assets is not done with you yet.
          This Forum is better than any lawyer I met.

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          • #6
            Originally posted by chriselle View Post
            I'll just passing an info I was told by a moderator here. The key is at the 341. If they ask you for a copy of your 2010 tax documents, then they are eyeing the refund. Big Question is Have you exempted it on your petition? And most important, since your 341 was way back in december, did your trustee issued a Report of No Distribution already? If he has not yet, then the panel trustee who administers the assets is not done with you yet.
            They never asked ANYTHING about my tax refunds in december, he looked at our taxes from 08 and then handed them back to me and said he didnt need them we could have them back. As far as a report of no distribution?? i have never heard of it , but when we were leaving the 341 mtg my attorney said if we hear nothing thats good ...no news is good news(according to her) so i dont know i guess i can just call my attorney and ask her what i need to do?

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            • #7
              I am planning on filing chapter 7 in the next 2-3 months. I just received my refund of $ 5000.00
              I will be using it for necessities, extra house payment etc.
              Do I have reason to be concerned with TT asking for it , if its already spent ?

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              • #8
                Originally posted by luvu283 View Post
                They never asked ANYTHING about my tax refunds in december, he looked at our taxes from 08 and then handed them back to me and said he didnt need them we could have them back. As far as a report of no distribution?? i have never heard of it , but when we were leaving the 341 mtg my attorney said if we hear nothing thats good ...no news is good news(according to her) so i dont know i guess i can just call my attorney and ask her what i need to do?
                The report of No Distribution 10 days after your 341 is the 3rd best thing next to discharge and closing on chapter 7 filers. Trustee's report of no distribution means the trustee who administers the assets, including refunds if any is saying there's no money for the creditors. Someone called that report a first class ticket to the 60-day club ride.
                This Forum is better than any lawyer I met.

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                • #9
                  so how can i find out if my report of no distribution is done or not??

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                  • #10
                    Originally posted by chriselle View Post
                    And most important, since your 341 was way back in december, did your trustee issued a Report of No Distribution already? If he has not yet, then the panel trustee who administers the assets is not done with you yet.
                    I just checked pacer and my report of no distribution was issued on 12/30, so does that mean they wont want my tax return??

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                    • #11
                      Originally posted by luvu283 View Post
                      I just checked pacer and my report of no distribution was issued on 12/30, so does that mean they wont want my tax return??
                      They are not looking for it if they issued the report of no distribution. The TT found no assets (your tax refund) to distribute. Sounds like your clear.

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                      • #12
                        free and clear!!! Trustee has sent a notice to all creditors that nothing to distribute. This should put a smile
                        This Forum is better than any lawyer I met.

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                        • #13
                          Not so fast. They did the same thing with me and I think that is common practice until the TT sees your tax returns. Here's how it went down for me:

                          1. August 2009: Filed no asset
                          2. September 2009: 341 in which TT told me to mail returns to his office
                          3. November 2009: Discharge/Report of No Distribution (abandoned all real estate properties, and vehicles)
                          4. December 2009: TT sent out letter stating there would be funds to be administered, creditors have until 3/22/10 to file claims, changed to asset case
                          5. February 5th: Sent copies of my tax returns
                          6. February 9th: Received letter from TT stating he would be taking the returns and to send him the checks unendorsed
                          7. February 19th: Sent him the checks

                          And I await to see what I will get back.

                          You are not free and clear on anything until you are discharged and more importantly for tax refund purposes.....closed.
                          New Orleans: Home to the World Champion Saints, the biggest enviromental disaster and the biggest natural disaster in the history of this nation. Proud to call it home!

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                          • #14
                            we are missing one key part from the original post. Did the trustee requested to see the 2009 tax refund? That is the key indication from what I believe if they want a portion of the refund or the whole refund if it was not exempted.
                            This Forum is better than any lawyer I met.

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