I got a lump sum of back disability payments. I thought somewhere along the line I filled something out so taxes would be taken out but it does not look like it. I am worried about how much to set aside, especially since the amount really changes our potential taxable amount.
Reading the tax instructions for last year is confussing.
(((tools))) I understand your concern, tools. It is confusing dealing with government forms. Can you contact the tax department and ask someone if there was an error and how much to set aside? Also, do you have a copy of your return to know how much you were expecting to receive so that you do not keep any over and above that? Perhaps you can hang onto the check until you can talk to someone in the government from the tax department.
I will be praying that the Lord provides an official in the government office with wisdom to help you straighten out your financial situation, and I ask that God cover you with the all-surpassing peace of Christ Jesus and protect your heart and mind in Him as you wait to discover the solution. In Jesus' name. Amen.
God bless you, tools.
bapearl
Hi Tools,
I assume you are talking about the money you got from the time you applied and the time you actually started getting your payments? Although for me this was 10 + years ago, I never paid taxes on that money or on any of the disability money that I have received. I don't remember how long it took to get the disability to go through, I think it was three months, I know it was not very long. Also, That was the only household income.
If you do your own taxes and keep them, you should find a number there or in the phone book, You can call and ask if disability income is taxable? Or, if you know for sure it is, and I will be going to jail soon, you can ask if they will send you a form so you can figure out what you will have to pay in taxes. Good luck. It will work out.
Hugs!
Momof2
I still have not gotten any paperwork, just the auto deposit. Reading the '10 tax forms it is complicated. If married filing jointly making less than 32,000 is not taxable. We make more and we could be taxed on between 50%-85% off the disability. There is a way to have the previous years figured separately. I still need to get ahold of SSA again about it. I am trying to not let it worry me too much today.
That is Crazy! I hope it turns out that you get much better news. The little bit of money they give us and they make us jump through hoops to get it. Yes, try not to let it worry you. Wishing the best for you.
Hugs!