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Thank you for the interesting comparison between our bankruptcy laws for tax refunds and those in Canada.
In the U.S.A. a bankruptcy Trustee will often do a "short year election" to achieve a similar goal.
There is some discussion as to debtors being able to do a short year election as well. As best I can tell, I see no legal reason a debtor in the U.S.A. could not do the same.
That has the advantage to the Debtor that the pre-filing taxes could be paid within a Chapter 13 bankruptcy reorganization. The same would be true in a Chapter 7 where there was significant debts that are non-dischargeable and there would be non-exempt assets that could be used to pay that debt.
Thank you again for your input
- (Owner & Founder) Fraley & Fraley, Sacramento Bankruptcy AttorneysFounder & Owner, 1978 - present
I grew up in Needles California. I am a 1974 graduate of University of Southern California with a Bachelor's Degree in Political Science. I graduated from the University of Los Angeles School of Law in 1977.
My hobbies, passions and loves are my wife Nedra, my kids and grandchildren. I love horseback riding & back country camping. For many years my wife and I were a volunteer mounted Forest Rangers in the Emigrant Wilderness east of Sonora California). As a leader in 4-H I have been involved in 4H youth programs including being a horse project leader. Even though my kids are grown, I still volunteer as a gymkhana horse show judge. My other passion is archaeology. Nedra and I spent the summer of 1973 before we were married at an archaeology dig where we learned to work as a team on everything we do. Nedra is the other Fraley in the firm's name. I have been a Sunday School teacher and Elder in my church.I also taught "Leave No Trace" camping and "gentle stock use" techniques to both youth and adult groups.
I believe that what you get out of life is based on what you put into it. Helping people is it's own reward.
- University of California, Los AngelesLaw School (Juris Doctor Degree), 1974 - 1977
- University of Southern CaliforniaPolitical Science (Bachelor's Degree), 1972 - 1974
- Brigham Young UniversityPolitical Science, 1970 - 1972