Sorry but I have another question and I can't find the answer any where. 2005 I adopted my 3 foster children that have lived with me for the past couple of years. They are all special needs children. This year my state pays 1000 per child for special needs children as a tax credit. This credit is good this year only, the year they were adopted, and cannot be carried forward or back. I know if the board takes this refund it goes to my creditors but honestly I will be upset because its me, NOT my creditors who have cared for these children these last few years. Any one know if they will take it from me?? We really need this money!!!
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Thanks for your reply.
Unfortunately I FINALLY got ahold of my lawyer today and was told that the trustee board doesn't care WHERE the money is from, Even EIC will be taken from me. I was told to expect to lose about 75% of it since I filed in October.
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Whether you take the refund or ask the IRS to apply it to next year, it is still an amount owed to you and won't get the BK court out of the picture.
In most states, the EIC is not part of the BK estate. By any chance, are you in OH?Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
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Hi Stacy,
I saw you mentioned Ohio. I know that the question wasn't addressed to me but I am in Ohio so I was wondering if you might have any extra information
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No, I'm not in OH. I'm in UT. I wish my attorney was wrong. But anyway, I had thought about applying it to next years taxes but on the letter about sending in the refund it does say that my discharge can be revoked if I do not comply completely and accurately-- I really don't want to rock the boat or anything. Thanks for the thought though!Comment
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The only state I've heard specifically counts the entire refund-regardless of source-as being part of the BK estate is OH.Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
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hmm... Well, again- I HOPE beyond hope she is WRONG. But, I will expect the worst in the meantime. After I send it in and find out how much they take I will let you know what they ended up taking.Comment
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