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Ch 13 tax refund rollover to next year's taxes
Posted: Tue Feb 12, 2013 4:16 pm
by Yahoo Bot
This is a Rod Danielson case, so I have my answer. Thanks to all who gave advice; very helpful as usual.
Law Offices
Santa Ana CA 92706
714-571-0042
714-571-0119 (fax)
lyounglaw@yahoo.com
________________________________
To: "
cdcbaa@yahoogroups.com"
Sent: Monday, February 11, 2013 6:41 PM
Subject: Re: [cdcbaa] Ch 13 tax refund rollover to next year's taxes
Rod Danielson in Riverside made at least one of my clients pay into the plan the amount of the tax refund that the client would have otherwise received in the situation mentioned here.
Giovanni Orantes, Esq. Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 1980Los Angeles, CA 90010Tel: (213) 389-4362Fax: (877) 789-5776e-mail:
go@gobklaw.comwebsite:
http://www.gobklaw.com/Board Certified - Business Bankruptcy Law - American Board of Certification
Board Certified - Consumer Bankruptcy Law - American Board of Certification
The post was migrated from Yahoo.
Ch 13 tax refund rollover to next year's taxes
Posted: Mon Feb 11, 2013 6:41 pm
by Yahoo Bot
Rod Danielson in Riverside made at least one of my clients pay into the
plan the amount of the tax refund that the client would have otherwise
received in the situation mentioned here.
Giovanni Orantes, Esq.
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 1980
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail:
go@gobklaw.com
website:
www.gobklaw.com
Board Certified - Business Bankruptcy Law - American Board of Certification
Board Certified - Consumer Bankruptcy Law - American Board of Certification
Rod Danielson in Riverside made at least one of my clients pay into the plan the amount of the tax refund that the client would have otherwise received in the situation mentioned here.
-- Giovanni Orantes, Esq. Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 1980Los Angeles, CA 90010Tel: (213) 389-4362Fax: (877) 789-5776e-mail:
go@gobklaw.com
website:
www.gobklaw.comBoard Certified - Business Bankruptcy Law - American Board of CertificationBoard Certified - Consumer Bankruptcy Law - American Board of Certification
The post was migrated from Yahoo.
Ch 13 tax refund rollover to next year's taxes
Posted: Mon Feb 11, 2013 5:41 pm
by Yahoo Bot
I doubt the trustee would go for this. Also the IRS is bound by the
automatic stay. The debtor is better off not incurring a tax liability
for 2013 (he has plenty of time to make sure he withholds enough) and
modifying his plan based on his reduced income.
Shannon A. Doyle
Attorney at Law
100 N. Barranca Avenue, Suite 250
West Covina, CA 91791-1600
Tel: (626) 646-2555
Fax: (626) 332-8644
www.blclaw.com
The post was migrated from Yahoo.
Ch 13 tax refund rollover to next year's taxes
Posted: Mon Feb 11, 2013 5:37 pm
by Yahoo Bot
If he withheld to much that means he had extra disposable income. That is why all refunds must go into the plan. He cannot apply the refund to next year's withholding unless he pays the trustee the equivalent amount.
That said, client's logic is flawed. Less hours less taxes. If withholding is too high last year, unless client reduced payroll withholding by claiming more dependents, or deductions will decline, why would client owe this year?
Mark Jessee
Sent from my iPhone
On Feb 11, 2013, at 5:13 PM, Laura Young wrote:
>
> Listmates: A client has asked if, instead of paying the tax refund to the Ch 13 trustee, he could advise the IRS that he wants to roll the refund over to pay for his 2013 taxes. On the tax return, it would say something like taxes deferred until 2013 tax year, and the amount owed/refunded would be zero. When I asked why he wanted to do this, he said that he was concerned that his hours would be cut and he might owe taxes next year that he couldn't pay. I've not had this question posed before. Has anyone had experience with this situation? Is it appropriate?
>
> Thank you,
>
>
> Laura E. Young
> Law Offices
> 2122 N. Broadway
> Santa Ana CA 92706
> 714-571-0042
> 714-571-0119 (fax)
>
lyounglaw@yahoo.com
>
The post was migrated from Yahoo.
Ch 13 tax refund rollover to next year's taxes
Posted: Mon Feb 11, 2013 5:13 pm
by Yahoo Bot
Listmates: A client has asked if, instead of paying the tax refund to the Ch 13 trustee, he could advise the IRS that he wants to roll the refund over to pay for his 2013 taxes. On the tax return, it would say something like taxes deferred until 2013 tax year, and the amount owed/refunded would be zero. When I asked why he wanted to do this, he said that he was concerned that his hours would be cut and he might owe taxes next year that he couldn't pay. I've not had this question posed before. Has anyone had experience with this situation? Is it appropriate?
Thank you,
Laura E. Young
Law Offices2122 N. Broadway
Santa Ana CA 92706
714-571-0042
714-571-0119 (fax)
lyounglaw@yahoo.com
The post was migrated from Yahoo.