You Don’t Want a Tax Refund in Chapter 13

When you’re in chapter 13, you don’t want a tax refund. Why? If you get a refund more than $250.00, you have to send it in to the bankruptcy trustee. So you don’t want to over-withhold.

You also don’t want to under-withhold. Why? Because on April 15, you’ll owe a tax payment. And you probably won’t have money available to pay it.

So you want as far as possible to break even when the taxes are filed.

In Chapter 13, as far as possible, you want to break even when you file your taxes.

That can be tough to do.

In January 2020, the IRS released a new calculator, that they claim will help you be accurate. Here it is. Hope it helps.

Meet Vanessa, Lexria & Jubilee Key

Meet Vanessa, my Paralegal

Vanessa Hill, bankruptcy paralegal, has worked for me for twenty years. She will get your credit report (when you give us permission) and she will set up our next meeting.

Meet Lexria, My Virtual File Clerk

Lexria, is my virtual file clerk. She can’t answer legal questions, but she is really good at getting the necessary information and bankruptcy required documents.

Meet Jubilee Key, my document manager

Jubilee Key is my document manager. She will send you our final papers for approval after we go over them, and then send them to the court. But her first job is to get your permission, so Vanessa can get your credit report. So look for an email from Jubilee.