pending Income tax retun

What is the name of your state?MN
Hello, for several years I have received up to 8K on my tax refund, single father w/ custody of 3 children and filing 1 exception. I considering filing BR and was wondering if my pending return will be taken or will questions be ask about my previous returns?

I earn 58K a year w/ custody of three small children with no debt only charge-off from the past 5yrs in several states. Paid my student loans and have about 18K in non paid creditors. Do you think I can qualify for Bankruptcy? And if so how should I proceed?

Originally Posted by Williegar

What is the name of your state?MN
Hello, for several years I have received up to 8K on my tax refund, single father w/ custody of 3 children and filing 1 exception. I considering filing BR and was wondering if my pending return will be taken or will questions be ask about my previous returns?

I earn 58K a year w/ custody of three small children with no debt only charge-off from the past 5yrs in several states. Paid my student loans and have about 18K in non paid creditors. Do you think I can qualify for Bankruptcy? And if so how should I proceed?

I am from Ohio and by no means an expert. You will want to check with your attorney on this.

In my case, I filed for and received my refund of approximately $2000 in late January, early February. According to what my attorney advised, I documented how I had spent the lump sum...which was legitimately for auto repairs, bills and the like (no vacations or fun stuff). I filed chapter 7 in mid March (approximately 6-8 weeks after receiving and spending down the lump sum).

I had another pending lump sum as well. My ex-husband owed more than $2K in child support. The child support bureau had attached his tax refund of just over $1K to pay down on the arrearage. According to my attorney, if I received the lump sum before I filed, it was treated as a lump sum just like my tax refund. However, if it was received after I filed, while I had to report it, child support was exempt from being attached. Luckily in my case, the lump sum hit after I'd filed.

With an $8K lump sum tax refund, if you're still expecting this money this year, it may very well be attached by the trustee. If you already received the tax refund for this year, it's been several months since you received it, and you can document how it was spent, it was not spent frivolously (on collectibles, valuables, or extravagant vacations), then now may be the best time to file.

On your filing, you'll want to list any future expected lump sums, however I don't believe you would have to put next year's tax refund on their since it isn't certain until you file taxes next year. I know I didn't list that, though I had to show copies of my 1040's for the last two years which indicate an average of $2k a year in refunds. If you file and actually receive the refund next year within 6 months of your discharge, I believe that you are obligated to report it and it could be tagged. However, if you file now and don't file your taxes until next April, the chances are that you will miss that six month window.

Hey thanks,

I have an appointment with an attorney this morning. He instructing me to bring Legal description of home (I rent), List of creditors, 2002 and 2003 and year to date income, last two pay stubs and any summons, garnishments, Judgments.

I think I’m well on my way to filing although I’m not pleased with this I believe it’s a necessary evil in order to straighten out some things from the past.

Thanks for your input and I’m hoping I can protect my pending income tax return for year 2005. I estimate it should be around 7 to 9K. Thanks again.