QUESTION

How much of the tax refund will the trustee take as part of the bankruptcy estate if I filed February 19th 2014?

Asked on Apr 28th, 2014 on Bankruptcy - Arizona
More details to this question:
I've already filed on my own and went to the creditors meeting, but the portion I don't understand is the 2014 tax refund. How much of the tax refund will the trustee take as part of the bankruptcy estate if I filed February 19th 2014? Is it divided into 12 months then 2 months worth or is it 50 days? Someone said to me that the Estate gets it all. I hardly pay taxes because I don't make a lot of money. I do however receive a lot of credits EIC for low income and child tax credit. How is this configured for AZ? I am a single mother and student. I depend heavily every year on those credits to take care of things like car maintenance and school clothes, shoes, household items like sheets, pillows, towels, blankets. So this is a huge deal for me. I begin to make a prioritized list in October of what will be purchased with that money in January and February. Now I'm worried.
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1 ANSWER

Bankruptcy Attorney serving Phoenix, AZ at Law Office of D. L. Drain, P.A.
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This answer assumes you filed your bankruptcy in Arizona and are an Arizona resident. The trustee will take all of your tax refund from 2013. Most likely the trustee will not take any of your tax refund for 2014.
Answered on May 02nd, 2014 at 2:46 PM

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