chapter 7 and tax return

Yes, bankruptcy filing is going to affect your tax return. In chapter 7 bankruptcy, your tax return or a part of it can be held as an asset, even if you do not receive it. Now, how much will be held as your asset depends on the time of filing. If you file at the end of the year, most of the tax return will be held as property. However, if you file bankruptcy at the middle of the year, 50% of the tax return may be held as asset.
The bankruptcy trustee in chapter 7 bankruptcy liquidates all the nonexempt assets of the debtor to pay off his creditors. For more details refer http://www.debtconsolidationcare.com/bankruptcy-discussion/capital-gain.html .