It’s that time of year again! How Bankruptcy affects your tax refund

It’s tax time again and one of the most common questions practitioners get this time of year is how filing a chapter 7 will affect your tax refund. There is no simple answer however talk to you bankruptcy attorney about the applicable property exemptions that may cover not only your general refund but also parts of your refund attributable to child tax credit and/or earned income credit.

For those of you who are looking to file bankruptcy after you get your refund, it is very important to talk to a bankruptcy attorney before you get your refund to discuss the dos and don’ts of spending the money.