North Riverside Bankruptcy Lawyer States The Code Requires Taxes &am...

 There is often confusion on what tax return and for what year or years is required before filing for bankruptcy.  For Chapter 13, we need the last four years of federal income tax returns.  For Chapter 7, we need just the most recent year.  One thing that’s important to stress is that we need the actual federal income tax returns, not the W2’s.  If they’re employed, we need their last 60 days or approximately the last 2 months of pay stubs.  If, for example, they’re unemployed or receive social security or self-employed, we have what is called a “statement of income status” for the clients to sign.  And these basically affirm that they do not receive a normal paycheck stub, but they get paid cash, for example, or they get paid through unemployment.  So two very important parts of the pre-filing requirements are taxes and pay stubs.  Please try to have those items available when you meet with your attorney.  This will make your first consultation run very smoothly.