A tax question ??

[RainMoM]

I'm sure this has been brought up somewhere else here on the forms, just i can't seem to find it, Ok then.... After you are discharged from bk, and you have included your house in the bk. When it comes time to file your next year's taxes, do you have to pay back anything on your house ? What happens ? does anyone take your tax refund ? Again this is AFTER you been discharged

[keepmine]

There is no tax liaility on debts discharged in bk.
Your tax refund could be a different story. This time of year, trustees may have an interest in a portion of it unless, your lawyer can exempt it. If they want the refund, they can discharge your case but, leave it open to claim and distribute any refund.

[aces67]

You won't owe anything on the house. If you think you will get a tax refund you need to tell your lawyer so they can exempt it.

[RainMoM]

I believe most of my tax refund would be from my "child earned income credit ", and earned income credit.. gosh i hope I'm saying that right.. can they take that ?

[laurannm]

I believe most of my tax refund would be from my "child earned income credit ", and earned income credit.. gosh i hope I'm saying that right.. can they take that ?

I think I remember that they cannot, but it might depend on which exemptions you are using (federal vs state).

[kw1025]

If you are discharged in chap 7, say this Nov, can they take a tax refund for next year, 2010??

[RainMoM]

If you are discharged in chap 7, say this Nov, can they take a tax refund for next year, 2010??

That's what I"m trying to find out.. any input would be great !

[aces67]

That's what I"m trying to find out.. any input would be great !

My lawyer said no. We just now got our refund from 2008 and were able to keep it but my lawyer did exempt it.