Angel100Pure
Junior Member
What is the name of your state (only U.S. law)? Wisconsin
Hello, I hope you can help. I've been on long term disability with an insurance co since 2002. They had been taking $700 out of my $1500 monthly check. When I asked why, I never got an answer or they would say it's what you would get if you would get a pension check. I told them that I pulled my pension in 2001 so there would be no pension check. This went on for years. Finally last year someone understood what I was saying, had the amount investigated and plop there is was, the back payment from 2004 to 2009 of $47,000! Now is tax time. I loaned out 1/2 the money expecting it back in January...yeah right....but I calculated the taxes in turbo tax, and it says that I owe $11,000! I called the insurance co and asked them to send me amended w-2s but they wouldn't, so I asked for a break down of when this all happened and in what years and I got that. I was just told by someone who does taxes that because it was their fault with the money, I shouldn't have to claim taxes on this large amount. Normally my yearly income is $11,455 vs 2010 $66,302! Can you help? I'm so afraid to file since I don't have extra money to even make payment arrangements and I don't have a house, I only have my truck and it's only a 98 Ford Explorer.
Thank you in advance.
Angel
What is the name of your state (only U.S. law)?
Hello, I hope you can help. I've been on long term disability with an insurance co since 2002. They had been taking $700 out of my $1500 monthly check. When I asked why, I never got an answer or they would say it's what you would get if you would get a pension check. I told them that I pulled my pension in 2001 so there would be no pension check. This went on for years. Finally last year someone understood what I was saying, had the amount investigated and plop there is was, the back payment from 2004 to 2009 of $47,000! Now is tax time. I loaned out 1/2 the money expecting it back in January...yeah right....but I calculated the taxes in turbo tax, and it says that I owe $11,000! I called the insurance co and asked them to send me amended w-2s but they wouldn't, so I asked for a break down of when this all happened and in what years and I got that. I was just told by someone who does taxes that because it was their fault with the money, I shouldn't have to claim taxes on this large amount. Normally my yearly income is $11,455 vs 2010 $66,302! Can you help? I'm so afraid to file since I don't have extra money to even make payment arrangements and I don't have a house, I only have my truck and it's only a 98 Ford Explorer.
Thank you in advance.
Angel
What is the name of your state (only U.S. law)?