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Which year's tax return should I use in my bankruptcy case?

Providence, RI |

I saw some instructions somewhere that I need to send my tax return to the trustee at least 7 days before my creditor's meeting (341 meeting). I have not yet filed my 2011 tax return and I am expecting to have to pay and not receive a refund. If the meeting is at the end of March, should I quickly get my 2011 taxes done or will the 2010 tax returns be sufficient?

Attorney Answers 3

Posted

As written, the Code only requires you to file the 2011 return IF you have filed the return prior to your bankruptcy case. But you don't want to make waves as a pro-se -- turn over the 2011 return if you can, and the 2010 return if you can't.

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Posted

You can file your 2011 taxes as you normally would - if you owe and want to wait until the deadline, that's fine. You'll just need to provide your most recently filed taxes to the trustee. The trustee will likely ask if you expect a refund, because you would need to exempt those funds or turn them over to the trustee, but since you expect to owe you should be fine.

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Posted

Its not unusual here that the trustee wants 5 years worth of returns even though the statute says 1.

Curt Harrington Patent & Tax Law Attorney Certified Tax Specialist by the California Board of Legal Specialization PATENTAX.COM This communication is general information and not legal advice, and does not create an attorney-client relationship. This communication should not be relied upon as any type of legal advice. Please note that no attorney-client relationship exists between the sender and the recipient of this message in the absence of either (1) a signed fee contract and (2) remission of an agreed-upon retainer. Absent such an agreement and retainer, I am not engaged by you as an attorney, nor is any other member of my law firm.

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