I am asking how long for the trustee sends me the amount I am supposed to get on my income come tax check.
The trustee may take the refund and distribute it to creditors because a tax refund is not considered an exempted asset under bankruptcy laws.
Maybe. It depends upon the amount of time that has elapsed between the BK discharge and the receiving of the tax refund. Generally any refund that can be seized by the trustee must be pro-rated.
What happens if you have paid all fees for a chapter 7 bankruptcy and your trustee tells you to turn over your income tax check and you don't because you are laid off and you are using the income tax check to pay bills and medical expenses and the trustee has threaten to revoke your bankruptcy due to non payment of your income tax check
Before tax income is gross income less allowable deductions and rebates = assessable income. After tax income is assessable income less the applicable income tax
Income tax IS based on your income that is why it is called INCOME tax.
You should know that this is done the IRS and the trustee each receives an information showing the amount of income that was received for the year and that information would be used to report the income on the trust income tax return.
Yes. Any tax on income is income tax. Taxes imposed after income, such as sales tax, aren't.
A income tax is a tax levied on the income of individuals or business.
Net income is what you get after tax, gross income is before tax.
You should get this information from the trustee of the retirement plan. But for income tax purpose you should be able to BUT the taxable amount of the distributions will be subject to income taxes at your marginal tax rate. It is also possible that from 50% to 85% of your SSB can also become taxable income at your marginal tax rate on your 1040 federal income tax return.
Income tax an amount of tax that is due on your TAXABLE INCOME amount for the tax year.