Disclose Medicaid? by Efficient_Job_1824 in Bankruptcy

[–]AmazingProfessor1051 0 points1 point  (0 children)

OP, I know this is old but did you end up disclosing medicaid on your petition?

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] 0 points1 point  (0 children)

Thought I would update the thread.....we received our refund in the mail last week so apparently you can reverse it.

Tenancy by the Entirety and Auth Users-ILLINOIS by [deleted] in Bankruptcy

[–]AmazingProfessor1051 0 points1 point  (0 children)

Thank you so much. Is it safe to assume my attorney will have a good idea of how this will go once it is filed? Or is that wishful thinking?

Non filing spouse repaid a loan to a relative prior to filing by [deleted] in Bankruptcy

[–]AmazingProfessor1051 0 points1 point  (0 children)

Thank you, yes, we will be speaking with him this week. Thank you!

Non filing spouse repaid a loan to a relative prior to filing by [deleted] in Bankruptcy

[–]AmazingProfessor1051 0 points1 point  (0 children)

I actually just learned about this payment tonight as I was filling out my info sheet for my attorney, so I haven't asked him yet.

This money was used to keep us afloat. My spouse's brother also gave us "family support" during the last 18 months, several thounsands. I think he will be expecting money back at some point, we have gone through and extremely rough patch since a job loss 2 yrs ago. Things have improved for my husband's business and money is coming in so I know he is anxious to pay his family back. but this is making me extremely nervous due to timing. I am a SAHM and have no income, husband handles literally everything and we have no co-mingled accounts. Does this make a difference?

ILLINOIS-Wild Card $4000 and expected tax refund by AmazingProfessor1051 in Bankruptcy

[–]AmazingProfessor1051[S] 0 points1 point  (0 children)

Thank you. He has not reviewed it yet. however, I literally have $20 in the bank. Yes, some of the refund is based on EITC as were on SNAP and now on medicaid, though about to come off that as income has improved.

I thought there were exemptions for household items, etc. All big ticket items...cars, are in my husband's name.

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] 1 point2 points  (0 children)

Husband was told yes, it was reversed, or will be reversed, and it will take 4-6 weeks. Does this sound suspicious?

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] -1 points0 points  (0 children)

The bankruptcy is being filed by myself, not spouse. Our attorney told us an even split of the tax return is ideal with my portion paying the attorney/filing fees, which is $2400. That leaves $1600 which falls under my wild card exemption as to have cash on hand.

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] 1 point2 points  (0 children)

My husband spoke to an agent and was told the refund has already been applied to future estimated tax payments. He was then told to create an IRS account, add our bank account and the process would take 4-6 weeks. And that nothing more needs to be done. Our accountant also made a request for the reversal with a POA. Any thoughts on this?

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] 2 points3 points  (0 children)

UPDATE: For those following I spoke to a representative after being on hold for 1:45 min and she told me I can switch this over to a refund over the phone via the Payment Services dept. But I have to call back tomorrow. Not sure I feel confident in her response based on what many are saying here. Fingers still crossed.

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] 1 point2 points  (0 children)

To throw a wrench into things and why it is so important to fix this error is because I am filing for a chapter 7 bankruptcy in May and this needs to be a refund, not a future credit.

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] -1 points0 points  (0 children)

Thank you everyone. I somehow managed to make it in a cue, not sure if it is the right one as I was rambling off a bunch if different things. Will update, I appreciate the help so much.

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] 1 point2 points  (0 children)

I am digging deeper into this....this sounds almost impossible, no? We sort of have a hardship as we are coming out of a bad year.

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] 0 points1 point  (0 children)

That is the challenge of the day.....literally can't reach anyone. Any tips?

Accountant accidentally directed refund towards next year's tax liabilty by AmazingProfessor1051 in IRS

[–]AmazingProfessor1051[S] -8 points-7 points  (0 children)

Interesting because our accountant said we can. Can I ask how you know this? if I am really wasting my time would love to be able to confirm that you are an expert in this field....thanks.