What is Non-Exempt Portion

[messedupbad]

We recived a letter today from our Trustee requesting copy of our 2005 State and Federal Tax returns. And for us to turn over the Non-Exempt Portion of the refunds when we recive them.
I dont know what is Non-exempt or what part is he requesting. Are refunds are small 450-500 we dont get EIC and have one child that we claim. any help would be great. And to think 1/20 was our 60day mark

[StaciMM]

If you did not claim an exemption (or didn't have one to claim) for the refund, then it will depend on when you filed. If you filed 10/15, then 9.5 months out of 12 had passed, so ~79% would be what the trustee could take. Adjust depending on when you filed...

[JimH]

Also, I understand that EIC and the "additional child tax credit" are exempt. I've seen many post this on the board but I haven't found any written proof of it yet.

[Minnymouth]

Normally the trustee will tell you to SEND HIM the refund and he will return your portion too you........

Need to check with your attorney or the Trustee.

[StaciMM]

The only exception I know of to that is Ohio... Just wanted to point out that it is not absolute, but is generally safe from the trustee.

Also, I understand that EIC and the "additional child tax credit" are exempt. I've seen many post this on the board but I haven't found any written proof of it yet.

[JimH]

The only exception I know of to that is Ohio... Just wanted to point out that it is not absolute, but is generally safe from the trustee.

lol... I'm in Ohio so are you telling me I can't get the special treatment. Ohio's exemptions are mere pennys!

Not that it matters. I efiled 1/18 with direct deposit. The money should be in my acct 1/27 and all gone by 1/31. Will be filing bk the end of feb.

Oh Mr. Trustee you want my 2005 tax return money?.... too bad... soo sad

[StaciMM]

If its gone, its no longer part of the BK estate. Better to be safe!