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this darn tax refund

almostthere2017
New Visitor

this darn tax refund

Hello!

Filed in April 2017, discharged Chap7 in July 2017.

Now its January 2018 and we are ready to file 2017 taxes.

We are due a refund of about $4.5k.

Do we need to alert the trustee of this? Can they take the cash since its technically income from 2017?

Is there anything at all special that we need to do?

Thanks!

 

Message 1 of 6
5 REPLIES 5
LJGoose
Member

Re: this darn tax refund

As far as I know (and I have been researching alot since I am about to file) you should be ok. You have already gotten your discharge and you should be good as far as I know. However chances are I could be wrong and I would wait for someone with alot more expierence to chime in here.

Message 2 of 6
leonel9
Frequent Contributor

Re: this darn tax refund

If the trustee was interested in your 2017 refund to be paid out in 2018, there should have been some arrangement already made. Aside from that, the important date is your filing date. The trustee would, generally, only be entitled to income earned up to your filing date, not income earned after filing.

 

If  you don't already have instructions  on turning in a 2017 refund, I wouldn't worry about it. The trustee likely filed paperwork calling your case a "no asset" case. You  obtained a discharge. There were no objections. The case is closed.

 

If any of the above are incorrect, let us know. Otherwise, put your refund in a place that will do you well. Smiley Happy

Message 3 of 6
SteelerNYC
Valued Contributor

Re: this darn tax refund

You should be fine based on everything I've heard.

 

Your withholding is seriously out of whack . . . fix it . . no reason you shouldn't be paying yourself that $$ throughout the year!

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU More Rewards Amex/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder Visa/Citi Costco Visa/CapitalOne SavorOne/Apple Card - $139,100 total revolving, 21% utilization
3.25% mortgage July 2020, $20k used Auto Loan October 2020, $20k PenFed Personal Loan Dec 2020
687/683/673 EX/EQ/TU w/ 5/6/6 INQs as of Jan 2021
Spending 2021 in the Garden
Message 4 of 6
ABCD2199
Senior Contributor

Re: this darn tax refund


@SteelerNYC wrote:

 

Your withholding is seriously out of whack . . . fix it . . no reason you shouldn't be paying yourself that $$ throughout the year!


Seriously, this.

 

If OP put their weekly overpayment into Insight at 5% APY, they'd have made $105 in interest on that free loan to the govt.  Yeesh!

Message 5 of 6
audio-disabled
Regular Contributor

Re: this darn tax refund

Thanks for posting this. Because I wanted to find out for my part too.

 

My timeline in filing and discharge is exactly same as yours.

 

I recall at the time of my 341 meeting, I was instructed to notify the trustee of any inheritance or any lump sum paid out to me within 3 or 6 months after, I can't remember how long exactly. So I should be off the hook now.

 

I had no asset case too. Am I expected to receive any forms to include in my tax returns? 

 

The following were discharged:

  1. Two CapOne Credit Cards
  2. One Chase Amazon Rewards Credit Card
  3. One DiscoverIT Credit Card
  4. AmplifyCU Auto Loan

 






$5000 Barclay Apple Visa | $4500 CapitalOne Platinum | $6000 SL CapitalOne VentureOne | $10K SL PenFed Pathfinder | $3500 Wells Fargo Platinum | $9500 BECU Visa
Goals: Grow scores into 700s
Message 6 of 6
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