Does the trustee check and verify bank statements with your bank for actual amount? 16 Answers as of September 10, 2014

Do they verify tax returns with IRS considering that this a matter of confidentiality?

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Law Office of Susan G. Taylor
Law Office of Susan G. Taylor | Susan G. Taylor
The trustee has 6 months of your bank statements and anything else he or she wants.
Answer Applies to: Texas
Replied: 9/10/2014
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
They may, but normally don't. You have to submit copies of your tax returns and bank statements for the month of filing. Remember, you are filing under penalty of perjury.
Answer Applies to: Colorado
Replied: 9/8/2014
Rhymer Law Firm
Rhymer Law Firm | William Rhymer
Yes, sometimes to both questions. They have the authority but it depends on the particular Trustee and circumstances.
Answer Applies to: Georgia
Replied: 9/8/2014
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
All filings are subject to review by the office of the United States Trustee. Failure to be truthful could result in you going to jail.
Answer Applies to: California
Replied: 9/5/2014
EDWARD P RUSSELL | EDWARD P RUSSELL
The Debtor must provide a copy of the latest Tax Return filed and a statement from the bank or banks showing the balance on the date of the filing of the bankruptcy to the trustee.
Answer Applies to: Minnesota
Replied: 9/5/2014
    Hayward, Parker, O'Leary & Pinsky, Esqs.
    Hayward, Parker, O'Leary & Pinsky, Esqs. | Michael O'Leary
    Code section 521(e)(2) requires the Debtor to provide to the Trustee a copy of their most recently filed federal tax return. Bankruptcy Rule 4002(c)(2)(B) requires production of a statement for all bank / investment accounts as of the date of filing. Most Trustees have their own document production requirements that are more expansive than those set forth in the Code or Rules. The Trustee will look at the documents that you produce. While there are some things that are confidential in bankruptcy, financial information certainly is not.
    Answer Applies to: New York
    Replied: 9/5/2014
    Patrick W. Currin, Attorney at Law | Patrick Currin
    Yes, you must provide at least your most recent tax return and the bank statements from the month you filed.
    Answer Applies to: California
    Replied: 9/5/2014
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    They can, it is up to them but generally they do not do that for every debtor.
    Answer Applies to: New York
    Replied: 9/5/2014
    Bunch & Brock, Attorneys-at-Law
    Bunch & Brock, Attorneys-at-Law | W. Thomas Bunch II
    Yes, ALL trustees check the bank account statements to verify the actual amount on deposit on the date a debtor files bankruptcy. In fact, they check those statements to look for unusual deposit or withdrawal activity, including large payments that may have been made to creditors or a relative (a/k/a "Insider"). Trustees also have the right to review a debtor's federal and state tax returns. When a person files a bankruptcy case, their financial life is an "open book".
    Answer Applies to: Kentucky
    Replied: 9/5/2014
    Ronald K. Nims LLC | Ronald K. Nims
    You have waived confidentiality by filing bankruptcy and giving the trustee a copy of these documents under penalty of perjury. In my experience,if an attorney files your bankruptcy, trustees seldom verify the bank account information. They're more likely to verify IRS information. If you're considering giving fraudulent information to the trustee, I strongly advise against it. You're filing bankruptcy because you have financial problems; bankruptcy fraud will give you a criminal problem. If you think that your problems are bad now, wait until you have a felony conviction.
    Answer Applies to: Ohio
    Replied: 9/5/2014
    Idaho Bankruptcy Law | Paul Ross
    Bank statements have to be turned over to the Trustee, so yes, the accounts are verified. In our jurisdiction, if someone files bankruptcy and they have not filed their taxes, the Trustee is notified of the failure to file. I am not aware that the Trustee verifies that the exact returns were the ones filed. However, under oath you are asked if it is a true and correct copy of the returns filed. But I would not recommend falsifying returns as that would constitute multiple crimes.
    Answer Applies to: Idaho
    Replied: 9/5/2014
    Tokarska Law Center
    Tokarska Law Center | Kathryn U. Tokarska
    I am speaking about the required documents in Southern District of California, other Districts may have different rules. We are required to provide along with some other things: copy of last filed tax return (if you haven't filed your returns Trustee may continue to hearing to give you time to file them and they'll want a copy) as well as bank statement for the month of the bankruptcy filing. Now, if your case is audited, a CPA firm contacts you and you must provide 6 month's worth of bank statements and explain any transactions inside them in excess of a certain amount, I believe it was $500 last time I had to do this. The "supporting documents" as they are called are provided directly to the Trustee who reviews them. They are NOT made available to the public.
    Answer Applies to: California
    Replied: 9/5/2014
    D.J. Rausa, Attorney at Law | D.J. Rausa
    Most trustees will require a bank statement which reflects the balance in all of the accounts, on the day of filing your case. Some trustees require several months of bank statements. Tax returns are required to be supplied to the trustee. Some trustees require several years worth of returns. These are NOT made public or given to creditors.
    Answer Applies to: California
    Replied: 9/5/2014
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    Yes. The trustee will ask for a minimum of 6 months bank statements, 2 years tax returns and 6 months paystubs.
    Answer Applies to: Nevada
    Replied: 9/5/2014
    LAW OFFICE OF RALPH L. WILLIAMS
    LAW OFFICE OF RALPH L. WILLIAMS | RALPH L. WILLIAMS
    Probably not as to both questions, unless it appears that the statements have been altered or tax has not been filed. At the meeting of creditors the trustee usually asks while you are under oath if everything in your schedules are true and correct and if the tax return is a true copy of the tax returns filed.
    Answer Applies to: California
    Replied: 9/5/2014
    Steele, George, Schofield & Ramos, LLP
    Steele, George, Schofield & Ramos, LLP | Alan E. Ramos
    Most trustees require a copy of bank statements that cover the period before and after the bankruptcy filing. You are required to submit a tax return for the last period during which a return was due (2013). Some trustees require more than one prior tax return. You should redact all but the last four digits of your social security number when submitting tax returns.
    Answer Applies to: California
    Replied: 9/5/2014
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