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06-28-2013, 10:50 AM | #1 | |||
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I have found that there is a loop hole in filing taxes when you are on wc and receiving ssdi. Social secutiry puts on their 1098 (or what ever form) that you could possibly make a certain amount. Thus you have to pay taxes on that amount of money. (example: I earned 2K from Ssdi, but another 18K was added to my tax form for possible wages) I had to pay almost 5K in taxes.
I do not understand this, if you have experienced this or know the best way to resolve this please let me know.
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. GOD help me be faithful in the midst of my suffering. Alt1268 |
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06-28-2013, 11:10 PM | #2 | ||
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Magnate
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Are you filing single? WC income is not taxable. Therefore, if your only taxable income is SSDI, you should owe no income taxes. Did a CPA advise you?
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06-30-2013, 11:07 AM | #3 | |||
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Yes, I had a cpa. He said he had never experienced this and that I should contact my senator. (which I have done) but to no avail have I gotten a response.
I filed married. Unbelievable isn't it?
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. GOD help me be faithful in the midst of my suffering. Alt1268 |
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06-30-2013, 02:07 PM | #4 | |||
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Senior Member
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i would consult with another accountant.
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06-30-2013, 05:15 PM | #5 | ||
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Magnate
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The filing married was why your income was taxed I believe. In theory, SSDI isn't taxed if it's your only income, but it is taxable. So, with your hubbie's income, it pushed you into a higher tax bracket, and was therefore taxable.
Where was the WC income entered on your return? I think this was maybe an error by your tax preparer, or maybe it didn't make a difference. When were you approved btw? Did you receive significant backpay? |
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06-30-2013, 06:11 PM | #6 | ||
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Magnate
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07-01-2013, 06:13 PM | #7 | |||
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SS said that if I wasn't recieving WC, that I would have received 18k more, thus I have to pay taxes on it. I wrote my senator, but you know how that is. I will probably never hear a word.
This is crap.
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. GOD help me be faithful in the midst of my suffering. Alt1268 |
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07-01-2013, 09:01 PM | #8 | ||
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Magnate
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That exception is on the link I provided.
You should still be clearing the same amount as when you were working... ? |
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"Thanks for this!" says: | alt1268 (07-02-2013) |
07-02-2013, 09:50 AM | #9 | ||
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Member
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Quote:
And I agree with other posters about your tax preparer. Doesn't sound right to me either. But none of us have access to your tax records so we are just guessing. |
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"Thanks for this!" says: | alt1268 (07-02-2013) |
07-02-2013, 10:38 PM | #10 | ||
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Magnate
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It should only be the offset that is recorded as WC income, not all your WC income, if I'm understanding it correctly. Did the tax preparer record all of it?
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