Forgot to disclose bonus income
I have a Chapter 13 bankruptcy case and am current on my monthly payments. In February, my employer and union agreed to a new contract, and as a result I received a ratification bonus of $4500, after taxes I kept about $2500. At the time, it did not occur to me that I needed to disclose this one-time income (stupid, I know). I still have the entire amount in my savings. I have reached out to my bankruptcy lawyer to inform him of my mistake, and I am prepared to pay the entire bonus amount to the trustee, but I am concerned there might be some consequences for my failure to report the income immediately? I'm hoping that my self disclosure now as opposed to having the bonus discovered in tax returns paints me in a favorable light, I really didn't mean to hide income.
Posted Jun 3, 2026, 1:52 AM UTC