Legal Question in Bankruptcy in Ohio

income tax

my question is should i file for my income tax before or after i file for bankruptcy? i was told that if i file bankrupcy before my income tax that they will take my income tax and pay off bills and that i would not recieve any of my refund. is this true?

Asked on 2/07/05, 3:31 am

1 Answer from Attorneys

Steven Schiller Steven L. Schiller, Attorney at Law

Re: income tax

If your tax refund is between $400 and $800 per person (depending on whether you have other assets, such as cash in bank), you should be able to keep the refund. If over that amount, you may be best advised to obtain your refund first, and to use the money for things which are exempt; i. e., things you are allowed to keep in bankruptcy. If you have any questions, feel free to contact me at 513-621-2201 (Cincinnati number)

Read more
Answered on 2/07/05, 9:59 am

Related Questions & Answers

More Bankruptcy Law questions and answers in Ohio