1. Home Icon: Clicking this button brings up the Home screen of the calculator. The Home screen, as displayed above, is the screen in which the user works out his or her calculations. The icon in the sidebar is grayed out (or highlighted) if the user is currently viewing its associated page.
2. Save Icon: Clicking this icon navigates the user to the “Save” screen.
3. New Icon: Clicking this icon navigates the user to the “New” screen.
4. Load Icon: Clicking this icon navigates the user to the “Load” screen.
5. Print Icon: Clicking this icon navigates the user to the “Print” screen.
6. Trustee / Case No. Fields:
• “Trustee”: Displays the trustee number.
• “Case”: Displays the case number.
7. Application Title: This displays the name of the application (Tax Refund Calculator) concatenated with a “:”, and the name of the saved file (e.g., “Tax Refund Calculator: My Tax Refund Turnover Calculations 1”). On first launch of this modal, File Title is displayed as “New” until the user saves the worksheet with a filename. The filename, “New”, is a reserved name; users cannot save a file with the filename, “New”.
8. “x” Icon: Clicking this button closes the modal. Users are prompted to save data if they have not already done so.
Tax Refund Calculator Sections
The Tax Refund Calculator screen is comprised of six sections, as shown in the screen above: ‘Summary’, ‘Tax Credit’, ‘IRS Refund Turnover’, ‘State Tax Refund Turnover’, ‘Asset Buyback’ and ‘Fees & Expenses’, as shown above and as described below in detail, with the exception of the ‘Summary’ section, which merely summarizes, in table format, the values generated via the calculations made in the other sections. Click on the ‘+’ symbol on each blue bar to expand the sections.
Tax Credit section
Here, the user can enter tax credit items the debtor may have received. Clicking on the ‘Calculate’ button sums up the amount of tax credit for the user.
a) Tax Credit “Item” and “Amount” Textboxes: The user creates Tax Credit items in this section (click below “Item” to activate these text fields).
b) “Add New” Button: Users can click on this icon to create a new row.
c) “x” Icon: Users can click on this icon to delete a row.
d) “Totals” Field: This field displays the sum of the values entered for the tax credit items. Value is updated dynamically as the user enters values above.
e) “Notes” Textbox: Users can enter notes in this textbox (click below “Notes” to activate this box).
f) “Calculate” Button: Clicking this button refreshes the value in the Totals Field and in the Summary Table.
IRS Refund Turnover section
Here, the user can enter the petition date, tax year and IRS tax refund and then select if there is a co-debtor as well as other related parameters. Clicking on the ‘Calculate’ button computes the ‘Estate vs. Debtor Split’ and ‘Debtor vs. Spouse Split’. Using the calculation results, the final portion of IRS refund to be turned over to the bankruptcy estate can be determined.
a) “Petition Date” Textbox: This field defaults to the petition date of the case. However, the field accepts user entries, both manual and via the date picker tool.
b) “Tax Year” Field: This field displays the tax year. The value defaults to the year of the selected Petition Date in paragraph a. above. Users can select a different year in the drop-down menu.
c) “IRS Tax Refund Asset” Drop-down Menu: This drop-down menu provides a list of assets in the case. Users select the relevant federal tax refund asset from this list. Only assets with UTC 1124 & 1224 are displayed.
d) “Refund Amount before Tax Credit” Textbox: This textbox is automatically populated (defaulted) with the “Current Trustee Value” of the tax refund asset selected in the “IRS Tax Refund Asset” drop-down menu. This value is the value before tax credits are applied. Users can change the value in this field.
e) “Refund Amount after Tax Credit” Textbox: The value in this textbox is automatically calculated by the formula: “Refund Amount before Tax Credit” minus “Tax Credit Totals Field”.
f) “Spouse Selection” Drop-down Menu: This menu provides the following options (also shown in the screenshot below). Options selected here enable/disable subsequent fields.
• “No Spouse”
• “Spouse included in bankruptcy”
• “Spouse NOT included in bankruptcy
g) Debtor Gross $ / Total Gross $ Radio Button: This radio button will be enabled only if “Spouse NOT included in bankruptcy” is selected in the Spouse Selection Drop-down Menu. If the user selects this radio button, the “Debtor Gross $” and “Total Gross $” fields in this section would be enabled. These fields will be used to calculate the percentage of income from debtor, and that percentage will be applied to the “Debtor vs. Spouse Split” calculations.
• “Debtor Gross $” Textbox: This is the gross income of the debtor alone. Users manually enter the value into this field.
• “Total Gross $” Textbox: This is the total gross income of the debtor and non-filing spouse. Users manually enter the value into this field.
h) “Enter Other %” Radio Button: “Percentage of Income from Debtor” Textbox: This radio button will be enabled only if “Spouse NOT included in bankruptcy” is selected in the Spouse Selection Drop-Down menu. Selecting this radio button will enable the textbox in this section and allow the user to enter a custom percentage of income from debtor; this percentage will be applied to the “Debtor vs. Spouse Split” calculations.
i) “Community Property State Rule” Radio Button: This radio button will be enabled only if “Spouse NOT included in bankruptcy” is selected in the Spouse Selection Drop-down Menu. Selecting this radio button will default the percentage of income from debtor to 100%; this percentage will be applied to the “Debtor vs. Spouse Split” calculations.
j) “Calculate” Button: Clicking this button refreshes calculated values on the right side of this section and in the Summary Table.
k) “Estate vs. Debtor Split” Table: This table displays a breakdown of the split values applied.
Note: Leap year should be considered when calculating the Total Days in Tax Year.
l) “Debtor vs. Spouse Split” Table: This table displays a breakdown of the split values applied.
m) “Final Portion of IRS Refund to Turnover to Bankruptcy Estate”: The value (‘$ Allocation’) computed from the formulae used in the table in paragraph k) above is inserted here. In the example table in paragraph k) above, 10% of the Allocation would go to the estate.
n) “Portion of IRS Refund to be Issued to Spouse”: The value (‘$ Allocation’) computed from the formulae used in the table in paragraph l) above is inserted here. In the example table in paragraph l) above, 0% of the Allocation would go to the spouse.
o) “Portion of IRS Refund to be Issued to Debtor”: The value (‘$ Allocation’) computed from the formulae used in the tables in paragraphs k) and l) above is inserted here. In the example table in paragraph k) above, 90% of the Allocation would go to the debtor, and 100% of that value would go to the debtor (as shown in the table in paragraph l) above.
p) “Update Tax Refund Memo field of selected IRS Tax Refund Asset” Checkbox: In the “?” tool tip icon, “Tax Refund Memo column is updated when file is saved.” is displayed. This checkbox is disabled if no asset in paragraph c) above has been selected. . If an asset has been selected, but it has been verified, the checkbox will also be enabled and this message will be displayed below the checkbox: “All assets for this case have been verified.”
Selecting this checkbox in the IRS section updates the “Tax Refund Memo” field of the selected asset in the “IRS Tax Refund Asset” Drop-down Menu.
State Tax Refund Turnover section
Here, the user 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 (shown above). The user can then select the state tax refund asset, click on ‘Calculate’, and the ‘Estate vs. Debtor Spit’ will be computed, from which the final portion of the state refund to be turned over to the bankruptcy estate can be determined.
a) “Same as IRS Refund Turnover” Checkbox: Selecting this checkbox disables and grays out fields and labels in paragraphs b) and c) below. This checkbox is selected by default.
b) “Petition Date” Textbox: This field is automatically populated with values equal to those in the “Petition Date” Textbox if the checkbox in paragraph a) above is selected.
c) “Tax Year” Field: This field is automatically populated with values equal to those in the “Tax Year” Drop-down menu if the checkbox in paragraph a) above is selected.
d) “State Tax Refund Asset” Drop-down Menu: This drop-down menu provides a list of assets in the case. Users select the relevant state tax refund asset from this list. Only assets with UTC 1124 & 1224 are displayed.
e) “Refund Amount” Textbox: This textbox is automatically populated with the “Current Trustee Value” of the tax refund asset selected in the “State Tax Refund Asset” drop-down menu. Users can change the value in this field.
f) “Calculate” Button: Clicking this button refreshes calculated values on the right side of this section and in the Summary Table.
g) “Estate vs. Debtor Split” Table: This table displays a breakdown of the split values applied.
Note: Leap year should be taken into account when calculating Total Days in Tax Year.
h) “Portion of State Refund to Turnover to Bankruptcy Estate”: The value (‘$ Allocation’) computed from the formulae in the table in paragraph g) above is inserted here. In the example above, 10% of the Allocation would go to the estate.
i) “Portion of State Refund to be Issued to Debtor”: The value (‘$ Allocation’) computed from the formulae in the table in paragraph g) above is inserted here. In the example table above, 90% of the Allocation would go to the debtor.
j) “Update Tax Refund Memo field of selected State Tax Refund Asset” Checkbox: This checkbox determines if the “Tax Refund Memo” field of the selected asset in the “State Tax Refund Asset” Drop-down Menu should be updated. In the “?” tool tip icon, the following is displayed: “Tax Refund Memo column will be updated when file is saved”. This checkbox is disabled if no asset in paragraph d) above has been selected. If an asset has been selected, but it has been verified, this checkbox will also be enabled and this message will be displayed below the checkbox: “All assets for this case have been verified.”
Asset Buyback section
Here, the user can enter the assets, if any, which the debtor and trustee have agreed to buy back. The user can accept the remaining value assets or make adjustments to the value.
a) “Add New” Button: Users can click on this icon to create a new row, as shown below.
b) “Asset” Drop-down Menu: Using the drop-down box, users select assets designated for buyback in this section. The drop-down box lists all current assets in the case.
c) “Remaining Val.” Textbox: This textbox is automatically populated with the Remaining Value of the selected asset in paragraph a) above. However, users can edit the value.
d) “Flat Fee” Radio Button: If the “Yes” radio button is selected, the original “Remaining Value” is not adjusted.
e) “x Adj.” Textbox: The default value in this textbox is “1.00”. The value inserted here determines the final value in the “Balance to Estate” column.
f) “Balance to Estate” Textbox: If the “Flat Fee” “No” radio button is selected, the value in this textbox is equal to that in the “Remaining Value” textbox (see paragraph c) above). If the “x Adj.” textbox is populated, and the “Flat Fee” “No” radio button is selected, the value in this textbox is equal to the “Remaining Value” multiplied by the “Adjustment” value.
g) Totals Field: This field (shown as a horizontal line above because no values have been entered) displays the sum of the values in the “Balance to Estate” column. The value is updated dynamically.
h) “Notes” Textbox: Users can enter notes in this textbox (click below “Notes” to activate this box).
i) “x” Icon: Users can click on this icon to delete a row.
j) “Calculate” Button: Clicking this button refreshes the value in the Totals field and in the Summary Table.
Fees and Expenses section
Here, the trustee can enter any fees or expense items that he or she may have incurred while pursuing the tax refunds.
a) “Fees & Expenses” Textboxes (“Item” and “Amount”): In these textboxes, the user enters fees and expense items incurred in processing the tax refund turnover.
b) “Add New” Button: Users can click on this icon to create a new row, as shown below.
c) Totals Field: This field (shown as a horizontal line above because no values have been entered) displays the sum of the values entered for the tax credit items. The value is updated dynamically as the user enters values above.
d) “Notes” Textbox: Users can enter notes in this textbox.
e) “x” Icon: Users can click on this icon to delete a row.
f) “Calculate” Button: Clicking this button refreshes the value in the Totals Field and in the Summary Table.
Print Screen
In the Print screen, shown below, the user can print either a full report or the IRS Refund Intercept letter. Values for this report are automatically retrieved from calculations performed in the main Tax Refund Calculator screen.
The above figure represents the “Print” screen.
1. “Full Report” Section: Users print the full report based on calculations made in the Home screen.
a) “Save As” Button: Clicking this button brings up the standard Windows Select File dialog box, in which the user can save the report by entering a new report filename or selecting an existing report file. The report is saved as a PDF file.
b) “Save a Copy to Document Management” Checkbox: Selecting this checkbox saves a copy of the PDF file into Document Management under the current case, and the sub-folder, “National Forms”. The copy is saved only when the user completes the “Save As” action.
2. “IRS Refund Intercept Letter” Section: The user generates IRS Refund Intercept Letter using a merge template.
a) “Tax Form No.” Textbox: This prints on the IRS Refund Turnover Report in the region indicated below.
b) “Refund Amount is Estimated” Checkbox: This prints on the IRS Refund Turnover Report in the region indicated below.
c) “Spouse Name” Textbox: This prints on the IRS Refund Turnover Report in the region indicated below. This textbox is enabled if the “Spouse NOT included in bankruptcy” option is selected in the “Spouse Selection” Drop-down menu.
d) “Spouse SSN/TIN” Textbox: This prints on the IRS Refund Turnover Report in the region indicated below. This textbox is only be enabled if the “Spouse NOT included in bankruptcy” option is selected.
e) “Show in letter” Checkbox: If this checkbox is unchecked, spouse SSN/TIN is hidden in the letter. This checkbox is only enabled if the “Spouse NOT included in bankruptcy” option is selected in the “Spouse Selection” Drop-down menu.
f) “Court Location of Petition Filing” Textbox: This prints on the IRS Refund Turnover Report in the region indicated below. This textbox always displays the last entry by default.
g) Save Icon: Clicking this icon generates the letter based on user settings above. When the letter is generated, it is opened in Word automatically.
h) “Save a Copy to Document Management” Checkbox: Selecting this checkbox saves a copy of the merged Word file into Document Management, under the current case, and subfolder, “National Forms”. The copy is saved only when the user clicks on the “Submit” button. The Word document filename defaults to: “IRS Tax Refund Intercept Letter – <Case No.> – <mm-dd-yyyy> <hhmm>.docx”, e.g., “IRS Tax Refund Intercept Letter – 12-12345 – 10-21-2013 0930.docx”.
Save Screen
The user can also save their calculations (via the ‘Save’ button shown to the right of the ‘Current’ field in the screen below) in multiple files and retrieve them for later use.
1. “Current” Section: The user saves a file onto the currently opened file.
2. “New” Section: The user saves as a new file.
a) “Filename” Textbox: If the user has just started with a new and previously unsaved file, the filename in this section displays the name, “New”, and the section is disabled/grayed out. The user must enter a filename under the “New” section (shown two screenshots below), or overwrite an existing file under the “Current” section to save the file.
b) Save Icon: Clicking this button saves all changes onto a new file.
c) Delete (“X”) Icon: Clicking on this button deletes the entered filename.
3. “Existing” Section: The user saves onto another existing file.
a) “Trustee”: Displays the trustee name.
b) “Case”: Displays the case name.
c) Save Icon: Clicking this button saves all changes onto the selected file.
d) Existing File List Table: This table displays a list of existing files that were previously saved in this tool. The list is filtered based on entries made in paragraphs a) and b) above. Each filename (calculation name) is accompanied with case number, case name and last saved date and time in the following format: “mm/dd/yyyy hh:mm AM/PM” (see the screen above).
e) Delete (“X”) Icon: Clicking on this button deletes the associated file.
f) Scroll Bar: A scroll bar becomes visible if the number of files extends beyond the current list height.
Create New Screen
The above figure represents the ‘Create New’ screen. The user utilizes this screen to start a new worksheet.
1. “New File Name” Textbox: The user enters a filename by which the new file is saved. (The filename only has to be unique within a case; the same filename can be re-used in a different case.)
2. “Trustee” Drop-down Menu: Users can select from the list of trustees available.
3. “Case” Drop-down Menu: Users can select from the list of cases available for the trustee.
4. Save Icon: Clicking this button saves all changes onto the selected file.
5. Delete (“X”) Icon: Clicking on this button deletes the entered filename.
Load “Open File” Screen
The above figure represents the Load (“Open File”) screen.
1. “Trustee” Drop-down Menu: This drop-down menu (shown empty here) displays all current trustees in the system.
2. “Case” Drop-down Menu: This drop-down menu (shown empty here) displays all current cases in the system under the selected trustee.
3. Existing File List: This area (grid) displays a list of existing files that were previously saved in this tool. The list is filtered based on entries made in paragraphs 1 and 2 above. Each filename is accompanied with case number, case name and last saved date and time in the following format: (mm/dd/yyyy hh:mm AM/PM) (see the screen above).
4. Delete (“X”) Icon: Clicking on this button deletes the entered filename.
5. Scroll Bar: A scroll bar becomes visible to the right of the grid above if the number of files extends beyond the current list height.
6. Save Icon: Clicking this button loads the selected file.
“Tax Refund Memo” Field & “Append to Asset Memo” Checkbox
1. “Append to Asset Memo” Checkbox and “Tax Refund Memo” Text Column: In the Assets screen, these two new columns (on the right side of the screen) have been inserted between the “Ledger Category” and “Insur. Type” columns.
a) “Append to Asset Memo” Checkbox Column: This column contains a checkbox. If the user selects the checkbox, the text in the “Tax Refund Memo” column is appended to the “Asset Memo” text when the Form 1 is printed. If the “Print Memo” checkbox (associated with “Asset Memo “column) is not selected, the “Tax Refund Memo” text will not print, even if the “Append to Asset Memo” checkbox is selected. The checkbox is unchecked and disabled if the associated asset is not under UTC 1124 or 1224.
b) “Tax Refund Memo” Column: This column holds text derived from the “Update Tax Refund Memo field of selected IRS Tax Refund Asset” Checkbox and contains text only if the associated asset is under UTC 1124 or 1224.
2. “Tax Refund Memo” Text Field and “Append to Asset Memo” Checkbox: In the Assets Details pane, these two new fields have been created, as shown in the screenshot above.
a) “Tax Refund Memo” Text Field: The user can edit text in this field and changes are reflected in the associated table column.
b) “Append to Asset Memo (in Form 1)” Checkbox: Users can select/de-select the checkbox here and changes are reflected in the associated table column.
c) Expand Field (Upward Directed Arrow) Button: Clicking this button expands the “Tax Refund Memo” field to fill the Asset Details panel. This functionality is the same as that of the “Asset Memo” and “Form 1 Memo” fields expand buttons adjacent to the “Tax Refund Memo” field.
d) “OA”, “DA”, “Fully Administered”, “Unscheduled” and “Reserved” Checkboxes: These checkboxes have been modified and rearranged, as shown in the bottom right portion of the screenshot above.
Tax Refund Calculator Access Permissions
Access to the Tax Refund Calculator is controlled by the following permission settings:
1. Full Access: Users who are granted the following permission setting are given full access to all Tax Calculator features.
2. No Access: Users who are granted the following permission settings are given no access to the Tax Calculator application.
Note: The “Delete” radio button is not selectable.