previous years tax refunds?

[turnipblood]

Hi all.

Headed down this dark road, looking for some light. Here's the deal. I understand the issues with the current year's tax return. But we haven't filed taxes for 2005 and 2007, both of which should be refunds for us. I'm guessing technically this is all part of the estate, same as 2008. But I wonder if it would be flagged or not if the 2007 isn't filed until after discharge. Can we conveniently "forget" about this?

Any experience or opinions?

[TEW]

If you haven't file BK yet get your taxes up to date get your refunds and spend them.......... BEFORE you file

[soleprop]

If you haven't file BK yet get your taxes up to date get your refunds and spend them.......... BEFORE you file

i agree totally - the trustee isn't dumb; you are required to provide filed taxes for previous years when filing, if the trustee sees they have yet to be filed and you expect returns - bad news for you, the creditors and trustee will get all of the money.

file for 2005 and 2007, get the returns, spend on home repairs/improvement, food, medical necessities (glasses, dentist, etc) and pay up your car/house/etc insurance for a year - anything to burn through those returns in exempt purchases.

THEN file your bk.

[turnipblood]

That's what I thought. Thanks guys.