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The Earned Income Credit (EIC) Percentage Of Your Tax Reimbursement

The Earned Income Credit (EIC) percentage of your income tax reimbursement has unique therapy in Kansas. Kansas legislation considers the EIC percentage of your refund greenlight cash flex loan exempt (KEEP) in bankruptcy, but as long as it meets listed here two needs:

  1. The reimbursement should never have already been gotten in the right time your bankruptcy is filed.
  2. You will be just permitted to claim one 12 months of EIC reimbursement as exempt.

This means you get to claim as exempt the EIC part of one income tax reimbursement that you haven’t yet gotten. This would mean they would claim the EIC portion of the next tax refund they receive as exempt for most people. As an example, you would be able to claim the EIC portion of that 2020 tax refund as exempt if you filed your bankruptcy on 9/1/2020, your 2020 tax refund would be received sometime in the year 2021, and. The percentage of the reimbursement that’s not EIC could be considered non-exempt, and it is at the mercy of return, as suggested into the reimbursement For Future taxation statements part above). Continuer la lecture