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Roger, Attorney
Category: Bankruptcy Law
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Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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A friend has a couple thousand in mattress money and a $4K

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A friend has a couple thousand in mattress money and a $4K check from the IRS. They were just approved/discharged for bankruptcy in July, they want to know if the IRS will persue that money if they put it in a savings account, CD, or an investment account (IRA/Mutual fund)? Thank you for your help :)
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 6 years ago.
The money would be considered income, and they would have to pay taxes on the $4000 from the IRS. However, it is not likely that the IRS would ever find out about the other money.
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