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In re Joel L. Torigian and Diane J. Torigian

Bankr. No.: 
95-10202
Chapter: 
7
Date of Decision: 
July 5, 1996
Issue: 
Whether an expected refund of federal income taxes has value for the estate when a Chapter 7 case is filed before the end of the tax year?
Ruling: 
The expected federal income tax refund is valuable property of the estate although the tax year may not have ended when the Chapter 7 debtor filed his petition. The estate will receive that portion of the refund that is attributable to pre-petition earnings. The remainder is part of the debtor's post-petition earnings and is not property of the estate.
Full Bankruptcy Court Decision: