Can I claim my 2011 Federal and State Tax return as exempt in AZ on a Chapter 7

Asked over 2 years ago - Parker, AZ

I filled out and filed my schedules myself and I was told I should of claimed my returns as exempt. I have already had my 341 hearing, Can I amend my schedule C if I can and will I have to amend other schedules as well?

Attorney answers (4)

  1. Douglas Garth Edmunds

    Contributor Level 13

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    Answered . You did not do anything wrong. Sadly, there is not a clear exemption for your tax refunds in Arizona. You will nearly always loose at least a portion of it, depending upon when you filed your bankruptcy case and whether or not you had received and spent your refunds.

  2. Dorothy G Bunce

    Pro

    Contributor Level 20

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    Answered . You can only exempt the refund if your state exemption program provides this. I am posting a link to a description of the exemptions available in all 50 state for you to review.

    Hope this perspective helps!

  3. Michael J Corbin

    Contributor Level 20

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    Answered . Unfortunately, AZ does not allow the use of the federal bankruptcy exemptions. Therefore, you will not be able to keep your refunds unless you can find a AZ state exemption that allows you to keep them.

    We can be reached at 507.334.0155. Our web address is: www. corbin-law-office.com This answer is not to be... more
  4. Clint Spencer Dunaway

    Pro

    Contributor Level 8

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    Answered . I would like to just add that if the tax return is less than a $1000, most trustees will let you keep it. Anything less than that just isn't worth their time going after. In fact I recently had a client who was to receive an almost $1300 tax refund that the trustee let them keep.

    So if your refund is less than $1000, you should be able to keep it.

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