' Bankruptcy and Your Income Tax Return - Law Offices of Robert M. Geller
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How filing bankruptcy could affect your tax return and refund. Attorney Robert Geller.

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I’m attorney Robert Geller and I’m a consumer bankruptcy attorney in the state of Florida. Today, I want to talk to you about taxes and bankruptcy. If you are considering filing bankruptcy or if you filed a bankruptcy, it’s really important that you know this information.

First of all, let’s talk about those considering filing either a chapter 7 or a chapter 13, but who have not filed yet first chapter 7. So if you have not filed a chapter 7 bankruptcy yet, you may want to get your tax refund before you file, depending on the amount. This is because, possibly, if it’s a substantial amount of money, you could lose that refund when you file.

For those who have already filed your chapter 7 who expect a refund, then possibly you will be forced to turn over a portion of that refund to your bankruptcy trustee.

The best thing you can do is speak to your attorney about how your case and your tax refund will be handled.

If you are filing a chapter 13 case or considering filing and you were expect a large refund, again, you may want to get that refund before you file your case. If you have already filed your chapter 13 case, and this applies to all of my clients out there, anybody who’s filed a chapter 13, you have a duty to provide the chapter 13 trustee with a copy of your entire tax return and the attachments. You will have to turn the refund over to the trustee.

Now, if you’re in a 13, if you’re one of my clients, there are certain circumstances that you may be able to keep that refund. We’d need to apply to the trustee. If you have exceptional circumstances, like major medical or major home repairs or car repairs, it might be enough for the trustee to allow you to keep your refund.

If you are having a serious financial hardship and having trouble paying your bills, and you expect a refund, and you’ve considered filing bankruptcy, now might be the time. You could use some of your tax refund to retain an attorney to help you with bankruptcy and eliminate your debt.

If you have any questions about your income taxes or using your refund to file for bankruptcy, please feel free to reach out to me. You can call us right now or schedule an appointment.

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Law Offices of Robert M. Geller, P.A.
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