Are you in a bankruptcy or considering filing for bankruptcy? If so, you may be wondering what happens to your tax refund in bankruptcy.
Tax Refunds in Bankruptcy
It is important to understand that the court will treat your tax refund as property of your estate. The amount that the trustee requires be sent back will vary depending on your state. Check with your attorney to go over the amount that your state requires. However, there are ways in which you and your attorney can petition the court to attempt to keep your refund. Discuss this with your attorney as soon as possible. Also, if you have filed for Chapter 13, you will need to send your tax returns to the trustee each year or send them to your attorney’s office until your case is completed.
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At the Law Office of Daniela Romero, we believe in relationships that are based on trust. Before we work together, we would like you to get to know us. We want you to be sure you are the right fit for us and that we are the perfect fit for you. This will allow you to be completely comfortable sharing intimate and difficult details of your case, so we can offer you representation to the fullest extent of the law. Call us today to set up a free consultation.