Welcome To The MN Bankruptcy Blog

Inside you will find over 500 helpful articles discussing the Chapter 7 & 13 Bankruptcy Process and other solutions for difficult financial situations.


      Are Future Tax Refunds Protected in Bankruptcy?

      Posted by Wesley Scott on January 12

      Many people are entitled receive tax refunds each year for overpayments to the IRS and Minnesota State Department of Revenue from taxes withheld from their paychecks. Sometimes, these refunds can be quite substantial. A debtor’s right to receive a future tax refund is considered property of the “bankruptcy estate.” In a chapter 7 bankruptcy case, property of the bankruptcy estate is all of the debtor’s money and property that is subject to being taken by the bankruptcy trustee to pay the debtor’s creditors. In many cases, most, if not all, the debtor’s money and property is “exempt,” or legally protected from being taken to pay their creditors.

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