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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17223
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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I live in Ohio. If filing for bankruptsy, how far back will

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I live in Ohio. If filing for bankruptsy, how far back will the courts request bank statements and tax returns?

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on

WALLSTREETESQ :

is this a chapter 7?

WALLSTREETESQ :

Is this a regular consumer bankruptcy?

Customer:

Chapter 13 possibly to protect a cosigner on my house. I ask because I've been selling off many hobby items for the past few years on eBay and may need to reflect this in an ammended tax return for my bank statements to match my income from the sales.

Customer:

This is not for a business

WALLSTREETESQ :

In a chapter 13, expect your last 6 months income statements, and if you are a sole proprietor, the trustee could ask for your last 12 months bank statements,

WALLSTREETESQ :

In terms of tax returns your most recent is required, and the prior one year in some cases, if their is an issue in regards XXXXX XXXXX income.

WALLSTREETESQ :

The trustee will rarely go back more than two years,

Customer:

If they see income from eBay sales over these last 6 months on my bank account would they go back more than 1 prior year to check for lets say 3 years of sales. I dont want to open a can of worms in regards XXXXX XXXXX sales activity.

Customer:

Also, would ammending my last tax return prompt them to go back farther

Customer:

I'm afraid that if I ammend 3 tax returns back, they may audit me and disallow the petition.

WALLSTREETESQ :

that is possible,

WALLSTREETESQ :

But the bankruptcy court, will look at your filed returns, and if they see you did not decalre income, it could be an issue,

Customer:

Any way to safely address this situation?

Customer:

Would paying back taxes help the situation

WALLSTREETESQ :

If you declare all income in your petition, and can prove to the Court that it was an oversight, and you filed an amended return, you should not have a major problem.

Customer:

Great, so they wont hold this against me or think it's too suspicious.

Customer:

Thanks for your help!

WALLSTREETESQ :

Good luck,

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