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Are chapter 13 payments deductable
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Are chapter 13 payments deductable
No. Payments under a Court-approved Chapter 13 Plan are distributed by the Trustee in payment of your debts. The Plan payments to the Trustee are not tax-deductible.
There is typically a continuing obligation of the debtor (1) to timely file tax returns and pay any taxes due, (2) to provide copies of the tax returns to the trustee, and (3) to turn over all tax refunds for distribution to the creditors.
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Are chapter 13 payments deductable
No. Payments under a Court-approved Chapter 13 Plan are distributed by the Trustee in payment of your debts. The Plan payments to the Trustee are not tax-deductible.
There is typically a continuing obligation of the debtor (1) to timely file tax returns and pay any taxes due, (2) to provide copies of the tax returns to the trustee, and (3) to turn over all tax refunds for distribution to the creditors.
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