Legal Question in Bankruptcy in Nevada

If you file before you receive and spend your 2009 tax refund, the Chapter 7 Trustee will take all of the refund. As to your 2010, the Trustee will take a percentage based upon what month you file. If you file in April, he will want 4/12s, if you file in August, he will want 8/12s.

If you would like an appointment to discuss, email me at [email protected].

As Jeff explained, the Chapter 7 Bankruptcy Trustee can take part of your tax refund. How much depends on when you filed Bankruptcy. But if your tax refund includes "earned income credit," you can keep all of that part of your refund. You can also keep up to $1,000 of your refund by using the Nevada "wildcard" exemption.

Careful planning is important before you file for bankruptcy. Although having to surrender your tax refund is only happens once, it really hurts lose any of that tax refund money. That is why it is so important to hire a competent attorney.