Will bankruptcy affect my 2014 taxes if I filed in 2013 but was finalized in 2014? 17 Answers as of February 10, 2015

I filed for chapter 7 bankruptcy in October 2013 and was finalized in January 2014. Will my 2014 tax return be taken? I was unemployed in 2013 so I did not get anything back last year as I was not able to get a job until March 2014.

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GARCIA & GONZALES, P.C. | Richard N. Gonzales
The Chapter 7 Trustee can take a portion of your 2013 tax refund. For example, if you filed-on October 1st, nine of the twelve months had gone by, or 9/12 = 75%. The Trustee could take 75% of your income tax refund. Normally the Trustee doesn't declare your case an "asset case" unless he or she can get at least $1,000 or more from you. Also, certain parts of your tax refund might be exempt. Like Earned Income Credit or Child Tax Credit. Hope this helps. Good luck!
Answer Applies to: Colorado
Replied: 2/10/2015
The bankruptcy will not affect your taxes.
Answer Applies to: Minnesota
Replied: 2/6/2015
Tokarska Law Center
Tokarska Law Center | Kathryn U. Tokarska
This question is worded strangely as tax returns are not taken. Perhaps what you are asking is whether if you are entitled to a tax refund in 2014, the refund will be taken by the Trustee. You said the bankruptcy was "finalized". I assume this to mean that the debt was discharged and the case closed. If that is what happened the refund is yours to keep.
Answer Applies to: California
Replied: 2/5/2015
Stephens Gourley & Bywater | David A. Stephens
It should not affect your taxes unless there was a tax debt in your bankruptcy.
Answer Applies to: Nevada
Replied: 2/5/2015
A Fresh Start
A Fresh Start | Dorothy G Bunce
If you filed Chapter 7, the bankruptcy trustee was only interested in your 2013 tax return & refund. Nothing else. If you filed chapter 13, your trustee gets both your return & refund as long as your case remains open, unless your Plan says otherwise.
Answer Applies to: Nevada
Replied: 2/5/2015
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    Nope, you get your refund if case concluded in January.
    Answer Applies to: California
    Replied: 2/5/2015
    Black Law Group | Clare Black
    If you filed in 2013, your 2014 tax refund will not be captured if you filed a Chapter 7.
    Answer Applies to: Arizona
    Replied: 2/5/2015
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    If the trustee has not told you they are going to seize your tax returns or if your case has already been closed then you are fine.
    Answer Applies to: New York
    Replied: 2/5/2015
    Wellman Law LLC
    Wellman Law LLC | Keith A. Wellman
    They cannot take your tax return, but can they take your tax refund? Bankruptcy joke. If you filed your case in 2013 I don't see how your 2014 refund could possibly be property of a Chapter 7 bankruptcy estate, but you can always ask the Trustee questions like this if you're concerned.
    Answer Applies to: Kansas
    Replied: 2/5/2015
    Ronald K. Nims LLC | Ronald K. Nims
    Any income you earned after you filed your bankruptcy in October can't be taken by the trustee. If you used an attorney, he/she should have estimated your 2014 refund in October and instructed you to reduce your withholding to give you a minimum refund. If you didn't do that, then they can allocate your withholding over the year and take the part of the refund attributed to the withholding before you filed.
    Answer Applies to: Ohio
    Replied: 2/5/2015
    Wink & Wink
    Wink & Wink | Gigi Wink
    Only if the Trustee has asked for you to provide copies of 2014 taxes. They can only take the percentage due to you at the filing date.
    Answer Applies to: Colorado
    Replied: 2/5/2015
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    Generally the discharge of debts in a chapter 7 bankruptcy has no tax consequences. Consult your bankruptcy lawyer for more detailed information relating to your specific circumstances. Good luck.
    Answer Applies to: Wisconsin
    Replied: 2/5/2015
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    I would think not but check with your lawyer, or get one.
    Answer Applies to: Michigan
    Replied: 2/5/2015
    John W. Lee, PC
    John W. Lee, PC | Kim A. Lewis
    Your refund will not be taken unless you owe a government agency such as the IRS, Sallie Mae etc.
    Answer Applies to: Virginia
    Replied: 2/5/2015
    Garner Law Office
    Garner Law Office | Daniel Garner
    No, your tax refund is not at risk. Chapter 7 looks at whatever assets you had, including tax refunds owed to you, as of the date of filing. If you filed bankruptcy in October 2013 and only started working in March 2014, any tax refund you get this year will be a result of earnings you had after the bankruptcy filing date, and therefore, it is beyond the reach of the bankruptcy trustee. Of course, if you specifically promised to turn over that refund in order to pay for some liability identified in your Chapter 7 bankruptcy, then you would be held accountable for that. But otherwise your tax refund is safe.
    Answer Applies to: Oregon
    Replied: 2/5/2015
    John W. Lee, P.C.
    John W. Lee, P.C. | John W. Lee
    A bankruptcy filed in 2013 should only effect your 2013 tax refund. Typically, if you file a bankruptcy in October of 2013, then the trustee would have a claim against tax refund monies you would have be entitled to as of October 2013. Therefore, when you receive your 2013 tax refund in early 2014, the trustee can take the portion of the refund that was not exempted.
    Answer Applies to: Virginia
    Replied: 2/5/2015
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    Your 2014 tax refund is not part of the bankruptcy estate. Your 2013 tax refund is. However if your case has been closed that means the trustee abandoned the refund to you to keep.
    Answer Applies to: Nevada
    Replied: 2/5/2015
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