LEGAL GUIDE
Written by attorney Jordan M. Slattery | Nov 11, 2011

Tax Refunds and Earned Income Credit When you File for Bankruptcy in Arizona

Tax Refunds and Earned Income Credit When you File for Bankruptcy in Arizona

When you file for bankruptcy, the bankruptcy estate has the right to receive your tax refund. That means that your refund for that year must be sent to the trustee who will determine how much will go straight into the estate and how much can be sent back to you.

Generally, the amount which goes toward the estate depends on when your bankruptcy is filed. If filed in June, then half of your refund would go into the estate, to pay creditors, and you would receive the other half.

Unfortunately, there is a waiting period between getting your refund and actually getting your money because you must send the refund check directly to the trustee and wait for them to send your portion to you.

If you are considering filing for bankruptcy and are wondering what your options are and how much of your tax refund you may receive, call a Tucson bankruptcy attorney and schedule a free consultation today.

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