Tax Refunds and Bankruptcy Exemptions
When it comes to filing for bankruptcy, many people are concerned about what will happen to their tax refund. The good news is that in most cases, tax refunds are exempt from bankruptcy. This means that you will still be able to receive your refund even if you have filed for bankruptcy. However, there are some exceptions to this rule. If you have a large tax refund that is more than the amount of your exemption, then the excess amount may be subject to seizure by the bankruptcy court.
If you are expecting a tax refund and plan on filing for bankruptcy, it is important to speak with an experienced bankruptcy attorney. They can help you determine if your tax refund is exempt from bankruptcy and how to best protect your assets.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start so FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706