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Is your tax return in jeopardy when you're in the middle of a car repo?

I'm sadly letting my car go and it will most likely happen next month (December). Can they take my tax return in the next few months here coming up?

Answer Question
 
mz_erica03

Asked by mz_erica03 at 2:19 PM on Nov. 4, 2010 in Money & Work

Level 14 (1,499 Credits)
Answers (5)
  • nope. the only people who can take your return are the government (back taxes, repayment of military bonuses) and student loan companies if you are in default.
    Jenny-talia

    Answer by Jenny-talia at 2:24 PM on Nov. 4, 2010

  • Not true...if it is a default loan it can be applied to the life of the loan..I would inquire with whomever you do your return with
    Happymom2-2

    Answer by Happymom2-2 at 3:23 PM on Nov. 4, 2010

  • Yes they can. Assuming that you owe them money after they sell the car. They have to sue you first and then file a claim with the IRS. You do have options though. You can save up money to settle with them before they file the claim. Or if the debt is in one of your names the other one can file married filing separate and then they cannot get that tax return (though you will get less of a tax return.)

    Student loans and back taxes can also be taken from a tax return- the difference is they don't have to sue you first.

    If you can pay them something every month maybe $100 that would help. Hopefully things get sorted out soon. Good luck!
    Erica_Smerica

    Answer by Erica_Smerica at 8:56 PM on Nov. 4, 2010

  • Why would you let them take your car? That's the start of a BIG mess for you
    TALuke

    Answer by TALuke at 11:05 AM on Nov. 5, 2010

  • How can they take money you don't currently have?
    HotMama330

    Answer by HotMama330 at 1:08 PM on Nov. 5, 2010

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