01 Feb 2015

Use the CaseLink Office Tax Refund Calculator to Determine the Fair Portion for Your Estates

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Use the CaseLink Office Tax Refund Calculator to Determine the Fair Portion for Your Estates

Determining the estate and non-estate portions of a tax refund used to be a complicated process. But that is no longer true thanks to the Tax Refund Calculator inside CaseLink Office. This feature will help you calculate the amount using different scenarios without having to export data or maintain information in separate spreadsheets.

If you’re already working with the basic features of the Tax Refund Calculator in Caselink Office, now may be a good time to review the features you’re not using, see which ones could be helpful to you, and add them to your work routine – especially now during tax season. This type of incremental approach is often the best way to learn.

Using the Tax Refund Calculator

Bring up the Tax Refund Calculator by clicking on the ‘Assets’ tab, then clicking on the ‘Tax Refund Calculator’ link in the Assets’ sub-menu. This will bring up the Summary section of the calculator.

Along the left side you will notice a series of icons. Clicking the New icon will open a window where you can start a new calculation or switch to a new case.


The Tax Refund Calculator helps you get the most out of your cases by allowing you to run multiple “what if” debtor scenarios. For this reason, each calculation you run can be saved with a unique name for review purposes.

Clicking the Print icon from the Summary section will show you all saved copies for the case you are working on. You can delete individual calculations or print out a full report of your calculations. From here, you can also print the IRS Refund Intercept letter (or run it from Reports/Cases). There is no preview function available when you print. To ensure you can access your saved Report later, check the box to save a copy to QuikDocs.


Underneath the Summary section, you will find five different sections where you can enter data. The IRS Refund Turnover section is the heart of the calculator and includes its essential functions. If you are a beginner, this is where you should concentrate your attention.

The other sections—Tax Credit, State Tax Refund Turnover, Asset Buyback and Fees and Expense—are optional. However, any calculations completed in the optional sections will automatically populate in the IRS Refund Turnover section.

IRS Refund Turnover

This section calculates the tax refund portions that should be turned over to the estate, debtor and spouse (if spouse is not included in bankruptcy filing). Using the calculated results, you can determine the final portion of the IRS refund that needs to be turned over to the bankruptcy estate.

When you print a report or IRS Refund Intercept Letter from the Summary screen, the values are automatically retrieved from calculations performed in this section.

  • Petition date can be edited
  • Petition date controls the yearly portion of the estate versus debtor portions
  • Drop down is limited to 1124 and 1224 assets
  • Check the box to add notes to the tax refund memo

 Additional features in the Tax Refund Calculator

The following sections are optional but may be useful to you. If you’re currently using the Tax Refund Calculator but not filling out every section, you may want to look over these optional form areas to use for specific cases based on the situation.

Tax Credit Section (Optional)

In this section you can enter any tax credit items the debtor or estate may have received. Clicking on the ‘Calculate’ button sums up all tax credit values entered. Any tax credits will reduce the amount available to the bankruptcy estate.

  • Enter as many credits as you want
  • Add notes to credits
  • Delete existing credits

State Tax Refund Turnover (Optional)

Here you can enter the petition date, tax year or choose to have this information default to the same values as those in the IRS Refund Turnover section.

  • Drop down to select asset is limited to 1124 and 1224 assets
  • User enters the refund amount

Asset Buyback (Optional)

This section allows you to determine the amount of the debtor portion to be withheld from the amount being returned to the debtor. If the debtor has agreed to an arrangement where he or she would use a portion of their tax refund to buy back certain assets, enter those asset(s) and their values here. You can either accept the remaining value of the asset or enter an adjustment to that value.

  • Drop Down shows all assets
  • Add multiple assets to build the buyback value
  • Add notes
  • A tax refund memo added to the asset screen can be included on Form 1 by checking a box

Fees and Expenses (Optional)

If you incurred any fees or expenses while pursuing the tax refunds, those items can be entered in this section. The total amount will be deducted from the debtor’s portion of the tax refund.

  • Add unlimited fees and expenses
  • Add notes to fees and expenses

For further assistance with the CaseLink Office Tax Refund Calculator, contact your Account Manager or the BMS Support Center via email or call 800-634-7734 ext. 6.