top of page

Tax Refunds and Bankruptcy

  • attytarageorge
  • Apr 1, 2014
  • 1 min read

As a Bankruptcy attorney, I often get a number of questions from clients relating to filing their bankruptcy and their tax refunds. The most common question is “Will I be able to keep my tax refund?” There is no simple "yes" or "no" answer.

When a bankruptcy is filed, all of the Debtor’s assets become property of the bankruptcy estate which is then administered by the Trustee assigned to the case. Even if you have not yet filed the bankruptcy, should you still have some or all of your tax refund at the time of filing, that money may be used to satisfy some or all of your creditors’ claims. Determining whether you can retain the entire refund depends on the amount of the refund and your other assets.

It is best to schedule a free consultation so I can look at all of your assets to determine whether you can protect your tax refund. In many cases, my clients are able to keep most, if not all of their refunds.

Recent Posts

See All
The Most Common Question

In over 11 years bankruptcy practice, the questions I hear most are based on clients' fear of what will happen to their credit. From...

 
 
 
Student Loans and Bankruptcy

Throughout the past 10 years, clients have asked me on more than one occasion if they can wipe out their student loan debt if they can...

 
 
 
Retailers and Bankruptcy

On February 5, 2015, news broke of the most recent retailer to file bankruptcy--Radio Shack. For those of you unfamiliar with the nearly...

 
 
 

Comments


Featured Posts
Recent Posts
Archive
Search By Tags
Follow Us
  • LinkedIn Black Round
  • Facebook Black Round

Serving

Southern New England

 

The Law Offices of Tara M. George offers services to the people of the cities and towns of Dartmouth, New Bedford, Fairhaven, Westport, Acushnet Mattapoisett, Marion, Wareham, Fall River, Swansea, Seekonk, Somerset, Taunton, Raynham, Rehoboth, Middleboro, Lakeville, Dighton and all surrounding areas.

© 2022 Tara M. George, Law Attorney. 

All Rights Reserved.

 

All Photos used with permission.  All Photo Credits and Copyrights belong exclusively to: Thuis Studios

Please Note

The information contained in this website is neither legal advice nor should be considered a substitute for legal advice. No Attorney-Client relationship has been created between the reader of this website and the Law Offices of Tara M. George and as such, no legal advice has been rendered. // You should consult an attorney for advice as it pertains to your specific set of circumstances and facts. // All information contained in this website is considered advertising under the rules of the Supreme Judicial Court of the Commonwealth of Massachusetts.

FOLLOW US:

  • Google+ - White Circle
  • LinkedIn - White Circle
  • Facebook - White Circle
bottom of page