Can filing for bankruptcy affect my tax return? 22 Answers as of May 29, 2013

I filed chapter 7. Will there be a difference in the return I will file?

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Mercado & Hartung, PLLC
Mercado & Hartung, PLLC | Christopher J. Mercado
No.
Answer Applies to: Washington
Replied: 5/29/2013
CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE).
CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE). | Gary Lee Lane
No.
Answer Applies to: California
Replied: 5/29/2013
Olson Law Firm | Edward M Olson
You should consult your tax advisor about this. But, normally, a bankruptcy does not affect your income or your income taxes.
Answer Applies to: Michigan
Replied: 7/16/2012
Steven Alpers | Steven Alpers
Your refund may go to the state or federal government.
Answer Applies to: California
Replied: 7/16/2012
Indianapolis Bankruptcy Law Office of Eric C. Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Bankruptcy does not affect the type of return that you file. Bankruptcy and the debts subject to discharge does not create a taxable event.
Answer Applies to: Indiana
Replied: 7/13/2012
    Harkess Law Offices | Nancy Harkess
    Filing for bankruptcy does not affect your filing of a tax return. However, if you receive a refund, the trustee may claim it.
    Answer Applies to: Nevada
    Replied: 7/11/2012
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    No difference on your return but you do want to make sure any tax refund is exempt so that the trustee does not seize it.
    Answer Applies to: New York
    Replied: 7/10/2012
    Diefer Law Group, P.C.
    Diefer Law Group, P.C. | Abel Fernandez
    No, it should not affect the amount of money that you receive. However, remember that your tax return is an asset and the closer you are to getting the return from the date you filed your case the court can inquire as to the amount to make sure you can protect the return. If the amount of your tax return is high and you cannot protect it, the court can require that you forfeit the money.
    Answer Applies to: California
    Replied: 7/10/2012
    Law Office of Jeffrey Solomon
    Law Office of Jeffrey Solomon | Jeffrey Solomon
    The bankruptcy should have no effect on your tax return. But the right to a refund could be an asset that may be taken by the chapter 7 trustee.
    Answer Applies to: Florida
    Replied: 7/10/2012
    Saedi Law Group
    Saedi Law Group | Lorena Saedi
    That will depend on how much money you are due back at the time your case is filed. Check with a bankruptcy attorney who can review your assets and exemptions to determine if any monies will be taken from you return.
    Answer Applies to: Georgia
    Replied: 7/6/2012
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    You file the return as usual.
    Answer Applies to: Michigan
    Replied: 7/10/2012
    David Andersen & Associates PC | Jeremy Shephard
    The bankruptcy filing should not affect the tax return you receive. A portion of your interest in the tax return may be subject to the bankruptcy estate.
    Answer Applies to: Michigan
    Replied: 7/10/2012
    Ryan Legal Services, Inc.
    Ryan Legal Services, Inc. | Kevin Ryan
    Filing a Ch 7 bankruptcy is in effect a "liquidation" of assets. Some or all of your 2012 tax returns may have to be turned over to the bankruptcy trustee to be paid to your creditors. One of the tasks of a consumer bankruptcy attorney is to maximize your protection under the law for your assets, to limit the trustee's claim on most or all of your property, including a tax return in many cases. The exemption laws are complicated. If you have an "asset" case, or think you may have assets, talk to a lawyer instead of trying to file a case on your own. The cost to you proceeding without a lawyer can be substantial.
    Answer Applies to: Ohio
    Replied: 7/10/2012
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    As an individual filing for regular consumer debts, no.
    Answer Applies to: California
    Replied: 7/10/2012
    Danville Law Group | Scott Jordan
    No.
    Answer Applies to: California
    Replied: 5/29/2013
    Law Office of Pho Ethan Tran PLLC
    Law Office of Pho Ethan Tran PLLC | Pho Ethan Tran
    Your tax return is not exempt from the bankruptcy estate, thus the trustee can order you to turn over the tax return to pay your creditors.
    Answer Applies to: Texas
    Replied: 7/10/2012
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