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The State of Michigan can only offset your federal refund, if they say the overpayment was due to misrepensentation or fraud. In this case you will need to contact a Bankruptcy Lawyer to help.
This will your choice that you will have to make. If you choose to take the pension benefits as a lump sum distribution you would receive the total amount at one time. If you choose to receive it as a annuity you will receive periodic payments over a number of years.
Yes, if you already have a payment arrangement with the IRS but have a refund due, they will take the refund. If you have a balance due, they will apply your tax refund to this balance.
A payment slip is a document sent by a creditor to a debtor with all the necessary information filled in in order a payment to take place. The debtor confirms the payment by her/his signature and the sum due to be payed, in case the latter has not been included. Usually the payment slips are in the form of strips of paper, but since some time electronic payment slips exist too. They are sent on the debtor's mobile phone or e-mail and the confirmation of the latter is necessary in order an electronic payment to take place.
Yes, unfortunately.
Yes, it is better to take a lump sum rather than annuities. Lump sums allow you to invest them yourself in places you want to invest them. If you are afraid you will spend the money too fast, take the annuity.
Yes, most definately.
The most common sources of lump sum payouts are legal settlements and lotteries. In both cases, you'll receive less money than if you took a payout over time. You should know if you are being penalized for taking a lump sum rather than installments. You should also know how long it will take for you to take possession of it.
They don't pay a lump sum payment. Here's why: Unemployment benefits are paid for each week you don't work. They expect you to be looking for a job. If you find a job, you don't get a check from them. It could result in Fraud if they gave you a lump sum, because you could take the money and work at a job - at the same time and that's illegal.
The State of Michigan can only offset your federal refund, if they say the overpayment was due to misrepensentation or fraud. In this case you will need to contact a Bankruptcy Lawyer to help.
This will your choice that you will have to make. If you choose to take the pension benefits as a lump sum distribution you would receive the total amount at one time. If you choose to receive it as a annuity you will receive periodic payments over a number of years.
Yes and it will close with a lump on it.
There are various secondary markets, many are online, that will buy your annuity and give you a lump sum payment. Typically, you would get more money though if you take the monthly allotment rather than the lump sum, so one should read and calculate the terms carefully.
If you take it in a lump sum of cash, you will lose money because they take more taxes out of it.
"Overpayment" means that you paid more income tax than you owed and, therefore, are probably due a refund. "Amend" means to send in a corrected tax return, which will take the place of the original return.
The state can't take overpayment of unemployment benefits from a Federal tax refund. Some states have provisions to deduct such from the state tax refund of their state. Most states will take a percentage of future unemployment benefits to pay off unemployment compensation overpayment.
If you were over paid by unemployment can that affect your social security benefits at all