Help!

August 31st, 2012 by Questions

if i have already filed my 2011 taxes in mar 2012 and i file for bankruptcy now, do they ask for that tax return to be handed over even if it may have been spent?? do trustees look at income and expenses before the bankruptcy or just during the bankruptcy??

Posted from: New Brunswick

Questions

One Response to “Help!”



, A licensed trustee said:

If you have already received your 2011 tax refund and spent it, your trustee will likely ask you to provide a detailed accounitng of where the money went. If you used it to pay bills or reduce your debt you should be fine. If you used it for some sort of luxury pruchase (a trip for example) you may have some explaining to do…

Trustees look at your icome beofre and after you file – mainly to see that things are consistant, but you should be prepared to explain any large changes.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)