I was ordered by family court to put $35K into a trust fund for my son in 2006. I had to take it from my tax deferred annuity. The money is for secondary education, but if not used for this, still passes to him with trustee approval for its reasonable use. I am on SSDI. Because of this one time court ordered funding, not only the 35K is being taxed, but so is my 2006 SSDI. I used Turbo Tax and owe a lot of taxes(Fed+State). Is there any way this tax due can be spread over years, such as income averaging? Does averaging even still exist in tax law?
Posts Tagged ‘court’
As claimant, my lawyer says that I pay the subrogation to my insurance in an out of court settlement. T / F ?
27
May
I believe my lawyer is not protecting my interests as were have a 60/40 cash split agreement and just wants me to accept a strictly cash settlement and not sign off on the opposing side paying the subrogation. What is the industry standard for settlements?
This is a personal injury case in Oklahoma.
Why do people still give money to the Roman Catholic Church when the cash goes to pay court settlements?
14
May
As of mid-2005, there are 195 Roman Catholic dioceses in the U.S. They have paid a total of over $1.5 billion dollars in settlements since 1950, all over child sexual abuse cases.
Yet people continue to tithe to the church. (The number of donors has fallen in the past few years, but the amount contributed overall has held steady.)
I’m confused. Why do congregants keep forking over money?
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Good Day: I have a FINAL ORDER from the Superior Court.?
06
May
It is ordered and adjudged that judgment is herby entered in favor of plaintiff (me) and upon declaration in said cause, plaintiff does recover of the said defendants the sum of $XXX, etc., etc.
Now, how do I go about getting the money??? This FINAL ORDER was signed by the judge last September. I haven’t seen a cent. This is not a structured settlement, so none of those TV people will help. Any ideas, anyone? Your help would be most appreciated.
Thank you in advance,
Esther
I’m in Vermont, and have paid over $5K in attorney fees for this $30+K judgment. A mechanics lien was filed a couple of years ago. This dude (the defendant if a pharmacist, who was recently jailed for growing lots of pot). I would love to talk to anyone who wants to, but in the mean time I REALLY appreciate your answers. (It says you don’t accept E-mails… so THANK YOU)! E.
If you have a court order, no matter what kind and things are not going as “ordered” what do you do?
29
Apr
My friend is the parent/guardian/trustee of a child that is receiving a “structured settlement”, all was agreed to & ordered by the judge, well her lawyer isn’t doing things the way she’s asked and the amount of deposit at the bank is not what it is supposed to be, what can she do? I mean isn’t that why you hire a lawyer, to help you get what you want?? He works for her,right?? Is there a motion she has to file with the court??
I won an out of court settlement in 2008. My lawsuit was for benefit’s from my company’s health plan .?
27
Apr
I received my pay for the first six months, but when it came time to collect past that time, there insurance co. denied the claim. I am retired from my medical condition and can no longer work, I now live on SS. Is there a tax break for me.
Recent Court Decisions Affecting Erisa and Executive Life Annuities; Hearing Before the Subcommittee on Labor of the Committee on Labor and
20
Apr
Product Description
Title: Recent Court Decisions Affecting Erisa and Executive Life Annuities : Hearing Before the Subcommittee on Labor of the Committee on Labor and Human Resources, United States Senate, One Hundred Third Congress, First Session, on S. 1312 August 2, 1993 Publisher: Washington : U.S. G.P.O. : For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office Publication date: 1994 Subjects: Pension trusts — Law and legislation United States Actions and defenses — United States Retirees — Pensions United States Insurance, Life — United States Postemployment benefits — United States Notes: This is an OCR reprint. There may be numerous typos or missing text. There are no illustrations or… More >>
i have an annuity from a car accident that i contacted jg wentworth to sell. i am going to court next wk?
13
Apr
and they told me once the judge approves it ill have the money in 5 days. now im reading online that they rip people off, what di i do?? or are they just talking about not paying much for the note?
Do I have to pay taxes on an out of court settlement?
29
Mar
My 15 month old son passed as a result of an incompetant pediatrician. A medical malpractice lawsuit was filed and now the pediatrician wants to settle out of court. I ‘may’ agree to it but as part of my decision making process I need to know if I have to pay taxes on any settlement I receive out of court.
Workmans comp. taking to court to keep medical open. Is this the way to go or take a cash settlement only?
29
Mar
Want to keep medical open but have heard that they will always say it is a new injury and workmans comp. won’t pay it anyway. We will get a cash settlement too, but going this route takes a lot longer than just taking a cash settlement only. Have tried to get information from lawyers and doctors and they don’t give much advise. Has anyone gone throught this before and can say what is the best way to go?
When monetary settlements are made in court how are taxes to be paid?
23
Mar
Recently divorced I refinanced my home to pay my X a significant sum. Is he responsible to pay taxes on the money he received? When I refinanced the difference in what I owed and what I refinanced for is the sum given to him – I’m not sure how I file?
Are personal injury court settlements taxable?
20
Mar
I was involved in an accident with an 18 wheeler, and I was wanting to know if i needed to include the settlement on my taxes?
What do you do when your attorney lies to you and the court knows it?
11
Mar
I’ve been divorced more than 12 yrs. In the div. decree I was given 1/2 pension and annuity of ex. He retired Jan 2006. I was entitled to more than $100,000 annuity. His city job knew this and had documentation. They mistakenly gave him my entitlement and when requested to return it, he refused and got an attorney. He lost.
Now, my attorney (person not responsible for my win) was handling a case for me against the city. I’ve felt that he has been less than honest. On 3/19/07, a status conference was held, as a result of a conference between my attorney and my ex’s atty, and the city’s atty in Dec. 06, and the outcome was to withhold the money mistakenly given to my ex., pending outcome of a decision in family court. He lost in that decision.
No attys except mine were in the ct room on 3/19/07 and he claimed not to know why. I found out from the clerk that my atty called the ct on Friday claiming that a settlement was reached. I never agreed to a settlement. What do I do