this year who gets the refund, the bankruptcy trustee or the state and fed tax commission
If you are entitled to get the tax refund this year, it will either be sent to you or IRS may credit it toward the 2011 taxes you owe.
Madhu Kalra Kalra Law Firm 23720 Arlington Avenue, Ste 5 Torrance, Ca 90501 (310) 325-9012
Social Security Lawyers
I respectfully disagree with Ms. Kalra. If you still owe for 2011, any refund available for 2012 will be applied first to that obligation. Any net refund will be subject to the claim of the Trustee on behalf of your creditors. The bankruptcy estate claim is a prorated share measured by the number of days in 2012 that had elapsed when you filed your bankruptcy petition. If you filed on October 1, the Trustee is entitled to a 75% share. In the event that the estate's share is below a certain point and there are no other assets to administer, the Trustee may release his claim to any of the refund.
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3 lawyers agree
Family Law Attorney
I wish you would have given us the figures. You will not receive your refund if you owe for prior year. If you do receive any of your refund the BK trustee MAY take it, depending upon what exemptions are available to you.
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