Bankruptcy Law/Tax returns

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Expert: - 7/30/2006


Question
Hello, Thanks in advance for your time.

My husband and I are going to be filing chapter 7 bk pro se real soon. I know that we have to have copies of our tax returns but was wondering if the copies we received from Jackson Hewitt were sufficient or if we will have to get the actual transcripts from IRS? I really wanted to file everything at the same time. If we have to have the actual transcripts, can we get the ones that are free or do we have to get the ones you pay for? And do you have any idea how long it takes to receive those? I am trying to decide if I should wait to file until I have received them.

Thanks so much.

Answer
After you file, mail a complete copy of your most recent state and Federal returns to the trustee, and you won't need the transcripts. The court clerks hate having you file those with your original petition, as all that paper has to be scanned and stored. But, I'm curious... I don't know who Jackson Hewitt is, I assume your tax accountant? But why don't you do the taxes yourself?

I assume you go to them because you are not a tax expert. I also assume you are not an experienced bankruptcy lawyer. Don't you have more to lose if the BK case is mishandled than you would stand to lose if you prepared your own taxes but made a mistake on your returns? Did you know that you can make certain common mistakes on your bankruptcy papers and have the whole bankruptcy denied? I see it happen alot. It really does happen. Yet, you have your taxes done for you but you will do your own BK? Please go to a lawyer. Find a good one, it's worth the money. Most people can ask a few good questions, (as you did), but fail to realize all of the other good questions that they should be asking. That's why you go to a lawyer. A good lawyer digs into the case looking for things that could be a problem, before it bites you in the rump. Believe it or not, they earn their money by saving you far money more than it will cost you.

If you want more info on the new bankruptcy law, please read my guide at:
http://www.debt-relief-bankruptcy.com/guide-new.asp  

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Los Angeles Bankruptcy Lawyer Leon D. Bayer

Expertise

Leon Bayer has successfully represented clients in bankruptcy for over 30 years. He is frequently called upon by the media, the California Bar and other associations to provide insight and help educate attorneys on bankruptcy issues. If you or other readers want to keep up with my blog postings about life in and out of bankruptcy, you can follow my blog at http://www.bankruptcyblogger.org/ and my personal web site at http://www.debt-relief-bankruptcy.com and A Human Guide to Bankruptcy at http://www.thebankruptcyguide.net/ Leon also writes about bankruptcy law for Nolo, see http://www.nolo.com/law-authors/leon-bayer.html and his "Ask Leon" bankruptcy law blog column at http://blog.nolo.com/bankruptcy/

Experience

Leon is a Certified Specialist in Bankruptcy Law by the State Bar of California, and has been a practicing bankruptcy lawyer in Los Angeles, California for 33 years.

Organizations
National Association of Consumer Bankruptcy Lawyers, California Bar Association, Los Angeles County Bar Association.

Publications
Author, ?The Essentials Of Chapter 13,? Daily Journal Report, December 18, 1987.
Contributing Editor, Basic Bankruptcy, California Practice Handbook, Matthew Bender 1992, 1993.
CEB Consultant, CEB-Personal and Small Business Bankruptcy Practice in California, 2003.


Education/Credentials
B.A., J.D.

Awards and Honors
President, 1995-1996-Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988. Law Advisory
Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000

MR. BAYER SAYS: The big banks and credit card companys have been working overtime for many years to undermine the Consitutional right of the American people to be able to claim bankruptcy protection. In 2005 the banking lobby successfully convinced Congress and the President to make the laws and proceedures more complicated, hopeing that it will stymie legitimate people from filing bankruptcy. They succeeded in gaining these complex new legal proceedures by greasing the legislative system with hundreds of millions of dollars in "campaign contributions." The good news for the American people is that while the new laws have made the proceedures needlessly complex to the point where inexperienced people can't help but trip over the maze of new rules and regulations, the process is still doable, especially with a lawyer who is well trained and experienced in this specialty.

Past/Present Clients
I have probably handled something on the order of about 15,000 bankruptcy cases thropughout my career.

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