Effects of Bankruptcy on Your Florida Tax Return

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Concerned About How Bankruptcy Might Affect Your Tax Return?

Bankruptcy can bring incredible relief, but it also brings worries about taxes, retirement income and other important elements of your financial picture. As experienced bankruptcy attorneys know, the preparation and filing processes should be handled in a way that protects tax refund money whenever possible.

If you are considering bankruptcy protection but you are worried about losing or having to repay your tax return money, contact us for advice from a skilled lawyer who understands how bankruptcy and income tax work together. We can help you develop a personalized strategy for keeping as much of your money as possible while getting rid of the debt that you can’t afford.

Guidance and Advice for Protecting Your Assets and Resources

As your bankruptcy attorneys, we will work with you to provide guidance and advice to help you protect your assets and resources in the bankruptcy process. We are highly experienced in facilitating Chapter 7 and Chapter 13 filings that enable our clients to improve their lives in real ways.

We can’t guarantee that you will be able to keep your tax refund if you file. In many cases, a bankruptcy trustee (the person appointed by the court to supervise your bankruptcy) may attempt to have you return your tax refund or use it to pay off some of your debts. However, there are techniques that we will use to help you keep as much of your refund as possible, including careful timing of the filing itself.

Contact a Sarasota Consumer Bankruptcy Lawyer

Contact the attorneys of The Collins Law Group to learn more about the effects of bankruptcy on your Florida tax return, or to ask questions about the benefits of bankruptcy and the legalities of debt repayment.

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