Can I Keep My Tax Return?
If you file bankruptcy and you are entitled to a tax refund the Trustee in your case can assert an interest in the refund. Because he can take a part of it doesnt mean that he or she will. First thing to consider is that certain parts of the tax refund are exempt. An example of an exemption is that potion of your return that is attributable to the earnd income tax credit. Another exemption is that portion of the refund which is attirbutale to income earned after the filing of the Bankruptcy case. Other considerations exist so if you need a free consultation just give our office a call.
For questions regarding Taxes and Bankruptcy call our Bankruptcy Attorneys at 918-637-1546