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Bankruptcy

: The Debt Podcast

Tax Refunds, Actual Tax Expenses, and the Means Test

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The Means Test reduces income by actual tax expenses, among other permitted reductions.  Problems arise when calculating an actual tax expense where there was a refund in the previous year. A refund occurs when someone over-withholds from their income to pay their taxes.  No one has a crystal ball, of course, so no one can ever [...]

Full post as published by The Debt Podcast on November 29, 2008 (boomark / email).

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