I know this question is flooding the boards, but I must ask it again,
perhaps with a different situation. I'm waiting for my tax return
form, I've been claiming Single and 0 dependants for the past year so
the most taxes have been taken out. I am a Florida resident and have
been for 6 years, and my last years tax return was a little over $400.
This year I am expecting more than that. I am currently waiting for
my 431(was told I would be notified 4 weeks ahead of time). Should I
file ASAP? Should I ask for an extension on my taxes? What should I
tell the trustee if asked about my tax returns? I read a post where
someone filed their taxes ASAP and when asked about their return, they
said they paid Rent, utilities, food, etc. Input appreciated.

I am in AZ and just filed Ch. 7 and was told that the trustee will take my
tax return regardless of when I file them as it is technically money owed to
my estate and therefore the creditors are entitled to it. Makes me MAD...
"Chris Simmons" <ChrisSimmons1980@Hotmail.com> wrote in message
news:dd85fa9e.0401112124.ad93dc@posting.google.com ... I know this question is flooding the boards, but I must ask it again, perhaps with a different situation. I'm waiting for my tax return form, I've been claiming Single and 0 dependants for the past year so the most taxes have been taken out. I am a Florida resident and have been for 6 years, and my last years tax return was a little over $400. This year I am expecting more than that. I am currently waiting for my 431(was told I would be notified 4 weeks ahead of time). Should I file ASAP? Should I ask for an extension on my taxes? What should I tell the trustee if asked about my tax returns? I read a post where someone filed their taxes ASAP and when asked about their return, they said they paid Rent, utilities, food, etc. Input appreciated.

The answer depends on your trustee and which exemptions are available to
you.

As far as filing is concerned, discuss the timing issue with your attorney.
He or she can advise you how best to set things up so as to be able to keep
your refund.

--

Brett

************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@brettweiss.com *
* http://www.brettweiss.com *
* *
* Small Business Estates & Estate Planning *
************************************************** ***************

The Small Print: This response is for discussion purposes only. It isn't
meant to be legal advice and you shouldn't treat it as such. If you want
legal advice, speak with a local lawyer familiar with your state's laws who
can review *all* of the facts and the law applicable to your situation.
************************************************** ***************

"Chris Simmons" <ChrisSimmons1980@Hotmail.com> wrote in message
news:dd85fa9e.0401112124.ad93dc@posting.google.com ... I know this question is flooding the boards, but I must ask it again, perhaps with a different situation. I'm waiting for my tax return form, I've been claiming Single and 0 dependants for the past year so the most taxes have been taken out. I am a Florida resident and have been for 6 years, and my last years tax return was a little over $400. This year I am expecting more than that. I am currently waiting for my 431(was told I would be notified 4 weeks ahead of time). Should I file ASAP? Should I ask for an extension on my taxes? What should I tell the trustee if asked about my tax returns? I read a post where someone filed their taxes ASAP and when asked about their return, they said they paid Rent, utilities, food, etc. Input appreciated.

"Ellie" <yukkyspam@nospam.com> wrote in message
news:resMb.430253$J77.82499@fed1read07... I am in AZ and just filed Ch. 7 and was told that the trustee will take my tax return regardless of when I file them as it is technically money owed
to my estate and therefore the creditors are entitled to it. Makes me MAD...

Excuse me? Why should it make you MAD?

You're filing BK7. You're using the law to relieve yourself of the
obligation to pay your creditors. And you're ANGRY because the BK trustee
might demand that your tax refund -- money which, by all rights, DOES belong
to your creditors -- may be distributed to your creditors?

Does anybody besides me see the irony in Ellie's righteous indignation?


PWB
(Who, incidentally, surrendered over $3000 in state and federal tax refunds
to his BK trustee...)

"Ellie" wrote in message I am in AZ and just filed Ch. 7 and was told that the trustee will take my tax return regardless of when I file them as it is technically money owed
to my estate and therefore the creditors are entitled to it. Makes me MAD...

Why mad? If you had the money in a bank account (consider the IRS your
savings bank last year) you would have to declare it on your list of assets!
Any assets that are over what the state allows go to the trustee and your
creditors. FTR, while I'm not an attorney, I have heard from a friend that
they don't go after small amounts because of the costs of retrieving it and
the paperwork involved. Check with a lawyer.

Wendy

Well, I guess I should have been more clear...I wouldn't have put the extra
money in a bank account, it would have gone towards my bills which we are
now behind on (electric, phone, water etc.) and would have been just our
every day money if we had been witholding our taxes properly. We had very
few "assets" (furniture and daily living stuff) and we were allowed $8000
worth of stuff. I am guessing our tax refund would be around $500. Does
that change the situation?
"Wendy" <virtual@juno.com> wrote in message
news:K4eNb.8939$873.335832@twister.tampabay.rr.com ... "Ellie" wrote in message I am in AZ and just filed Ch. 7 and was told that the trustee will take
my tax return regardless of when I file them as it is technically money
owed to my estate and therefore the creditors are entitled to it. Makes me
MAD... Why mad? If you had the money in a bank account (consider the IRS your savings bank last year) you would have to declare it on your list of
assets! Any assets that are over what the state allows go to the trustee and your creditors. FTR, while I'm not an attorney, I have heard from a friend that they don't go after small amounts because of the costs of retrieving it
and the paperwork involved. Check with a lawyer. Wendy