Comments and Request from Capts below concerning the 2007 amended
return:
Note; All recent posts in this area are
located in “FINANCE” section at (including Older Posts at bottom): http://pcnhighlife.blogspot.com/search/label/B.%20Finance
Victor blaha
Email vablaha@myacc.net
Issue Area - General
Comments - On the amended return - after reading
correspondence from the pension attorney and her position on not filing the
amended return; the fact that very few CPA's are involved with little result, I
do not believe it in your best interest to proceed. You could engage one of
these individuals claiming to be successful but I would recommend that you get
a signed engagement letter fixing the price and that it includes the
preparation and representation through conclusion. I would think it could get
expensive. I cannot in good conscience charge you for a service that I do not
at this time believe will be successful.
Mary Ann
Editor: Apparently Mary Ann is Capt Blaha’s legal advisor and is
recommending not to waste energy.
+++++
Next 3 Capt’s have requests. Can
anyone help them out on their issues then CC me your email response and I will
post in upcoming HL. Thanks.
From: Tal Fogg
Date: 9/29/2012 12:04:24 AM
Subject: 1040x
from 2006
Mark, what updated info or direction is available to someone
who tried to get their 2007 tax return refiled. I was told that I could refile
the 2007 return on Monday April 18, 2011 because april 15 was a holiday. now
the IRS says i filed late because there was no holiday extension for the 2007
1040x refile 3 year window. Thx, Tal Fogg
jetjuice@aol.com
Sent from my iPhone
++++
From: Roger L. Edson
Date: 9/18/2012 12:51:51 AM
Subject: Loss of
Medical Insurance, refund of previous with-holding
Gentlemen: I retired 10-01-96 from LAX, MD-11A. I have
received some emails and have read 'some' items on the High Life about applying
for these refunds but I am unclear as to what we are eliglble to apply for.
Could you please help me?
When we went through the process of the bankruptcy payment for loss of lifetime medical insurance it was determined by (someone) that my wife and I were eligible for a payment of $122,873.00. After discounting it down to the bankruptcy level, it was then determined that our payment would be $53,969.60. Out of that Delta withheld $13,447.64 for Federal Income tax, $3,346.11 for Social Security Tax (FICA, I believe), and $ 782.55 for Medicare Tax. Total with-holdings were $17,576.30. This left me with a deposit into Fidelity of $36,393.30, which I then rolled into an IRA account.
Which of the above amounts am I eligible to apply for a refund for? The Federal Income Tax? The Social Security (FICA) Tax? The Medicare Tax? Can you please help me with this?
I guess I need to get on the internet and try to download IRS Form 1040X for an amended return for 2007, possibly a form 'eight hundred and something' (843)?, maybe others? I have a letter from Robert L. Kight dated 2-13-08 with an attachment worksheet reflecting the above with-holdings, and a Social SEcurity Form 131 signed by a Delta Representative reflecting some of the above information.
I believe the $53,970. (rounded of to the nearest dollar) would have been included in my 2007 tax form 1040 and now that amount is reduced on the 1040X amended form?
Any details you can provide would be greatly appreciated.
My email address is: rle915@hotmail.com my postal mailing address is: 7003 McNatt Road, Aubrey, TX 76227 cell phone: 940-453-8590
Home phone: 940-440-9701
Thank you Roger Edson rle915@hotmail.com
When we went through the process of the bankruptcy payment for loss of lifetime medical insurance it was determined by (someone) that my wife and I were eligible for a payment of $122,873.00. After discounting it down to the bankruptcy level, it was then determined that our payment would be $53,969.60. Out of that Delta withheld $13,447.64 for Federal Income tax, $3,346.11 for Social Security Tax (FICA, I believe), and $ 782.55 for Medicare Tax. Total with-holdings were $17,576.30. This left me with a deposit into Fidelity of $36,393.30, which I then rolled into an IRA account.
Which of the above amounts am I eligible to apply for a refund for? The Federal Income Tax? The Social Security (FICA) Tax? The Medicare Tax? Can you please help me with this?
I guess I need to get on the internet and try to download IRS Form 1040X for an amended return for 2007, possibly a form 'eight hundred and something' (843)?, maybe others? I have a letter from Robert L. Kight dated 2-13-08 with an attachment worksheet reflecting the above with-holdings, and a Social SEcurity Form 131 signed by a Delta Representative reflecting some of the above information.
I believe the $53,970. (rounded of to the nearest dollar) would have been included in my 2007 tax form 1040 and now that amount is reduced on the 1040X amended form?
Any details you can provide would be greatly appreciated.
My email address is: rle915@hotmail.com my postal mailing address is: 7003 McNatt Road, Aubrey, TX 76227 cell phone: 940-453-8590
Home phone: 940-440-9701
Thank you Roger Edson rle915@hotmail.com
++++
From: RetDalCapt@aol.com
Date: 9/17/2012 12:01:31 PM
To:
Subject: FAA
Modernization Reform Act of 2012...
Gene:
I Googled FAA Modernization Reform act of
2012 and could not find Section 1106. On pages 152-154 I found nothing
regarding medical insurance settlements.
Can you tell me where I can find information
regarding the treatment of medical insurance settlement as wages?
I have already been denied through appeal on
both the 843 and 1040X . So I am just trying to determine if I have any reason
to refile an appeal.
I appreciate you willingness to share your
information.
Thanks
++++
From: Frank T. McKee
Date: 9/16/2012 10:16:16 PM
Subject: 2007 tax
refunds
Glad some are getting the deserved refund-mine was
denied, denied, denied and the last letter (they have all come from different
IRS offices) threatened me with a $5000 fine for "frivolous" tax
return filing if I persisted !!
Frank McKee
Ret Capt L1011
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Editor: Can someone help Mary out with her tax question?
From: Mary's Email
Date: 9/22/2012 1:04:15 PM
Subject: 1099-R
form
To whom this may concern,
When I changed tax accountants this year. He noticed on the
1099-R form it listed my gross distribution in box # 1. However, Delta left
box. # 2a blank (taxable amt,) 2b tax amt. not determined and box # 7-4 ( which
is appropriate.)
I receive these benefits as survivor from the D& S
Trust. My husband was a Wal/Dal Pilot.
Prior Michael's passing, ( 10,02,05), his W-2 were always
correct.
I've checked all past returns and box 2a has been blank. My
previous accountant listed it as income.
I've contact DESC several times and have received the same
form letter which is very ambitious.
Do you have an answer for this?
Would appreciate any information you can give me.
Thank you for your time.
Mary Oneal, Wife of, J. Michael Oneal
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