it matters if it is good or bad
What happens if you don't pay back LTD when awarded SSA disability? I was not aware I had to pay theme pack and the money is spent.
They will garnish your future SSA payments until the debt is paid back.
You could appeal their ruling if you were not overpaid. However, if you were overpaid and do not now qualify for ssa or have to pay some back then no.
The timing for receiving back pay for disability benefits can vary depending on the specific program and your individual case. Generally, if you are approved for benefits, the Social Security Administration (SSA) will calculate your back pay from the date you became eligible until your application was approved. This process can take several months, so it's important to keep track of your application status. If you have further questions, it's best to contact the SSA or your local disability office for more specific information.
No. Furthermore, if SSA issues a check after the death of the recipient, they have you (the estate) pay it back -- this is what happened when my mother died.
You have to pay after and/or take a loan. It can take years to pay back.
Very little. They sell ridiculously high and buy insultingly low. Sell your items on Ebay, at a garage sale or consignment shop. If you still want to sell to Replacements Ltd, get a quote from them, then get a quote from a local antique store/mall. Reject the low ball offer. I would take my china out to the back yard and shotgun it before I would sell it for nickels to Replacements Ltd.
The SSA does not have a percentage amount that they will use to determine the amount. Do not let this discourage from earning as much as you want because of the earnings test amount because in future years your monthly benefits will be increased because of this pay back amount. The below information is available by going to the SSA gov website SOCIAL SECURITY BENEFITS ONLINE and use the search box for earnings test amount
One disadvantage of a LTD is that they would have to pay Corporation tax on top of any existing taxes.
Even though the penalties that are noted in SSA regulations are "scary" and they do include the possibility of incarceration in a federal facility, it seldom happens in cases of misunderstanding. The problem is how exactly was the person entitled or receiving the supplemental benefits? Were the benefits belong to the deceased or the deceased's dependant children? Was the SSA notified of the death of the beneficiary? All these factors and possibly others directly affect what if any action the SSA will take in regards to the issue.
If you pay it back in the same year you received it, no. The taxable amount of benefits shown on your Form 1099-SSA will be automatically adjusted to account for repayments. If you will pay it back in a later year, yes. See page 15 of Publication 915 to see how to deal with repayments that exceed your benefits: http://www.irs.gov/pub/irs-pdf/p915.pdf
Ltd is an acronym for Limited. It means Limited Company, and it may have shares. This is primarily in the UK and other countries.