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Tax Expert? Answer Questions Here

 
 
Reply Sat 23 Feb, 2008 10:57 pm
I am beginning this thread, because I need some advice. But, I invite other members to ask their own questions here.

My question: I received some money from an insurance company, in settlement of a law suit. When they failed to send me a tax form, I wrote a letter, asking them for one. My letter appears to have been ignored. Is there a way to file on the money without a form?
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Type: Discussion • Score: 0 • Views: 762 • Replies: 5
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dadpad
 
  1  
Reply Sun 24 Feb, 2008 01:02 am
Most forms are available online these days edgar. Do you know what you need?

Heres a link to the IRS taxpayer assistance centers.

http://www.irs.gov/localcontacts/index.html

I'm guessing here but this may be relevent

If you do not receive your Form W-2, Form 1099-R, Form 1099-INT, or Form 1099-MISC by January 31st , or your information is incorrect, contact your employer/payer.

If you do not receive the missing or corrected form by February 15th from your employer/payer, you may call the IRS at 1-800-829-1040 for assistance. You must provide your name, address (including zip code), phone number, Social Security Number, dates of employment, your employer/payer's name, address (including zip code), and phone number. The IRS will contact the employer/payer for you and request the missing form. IRS will also send you a Form 4852 (PDF), Substitute for Form W-2 or Form 1099-R.

If you do not receive the missing form in sufficient time to file your tax return timely, you may use the Form 4852.

http://www.irs.gov/taxtopics/tc154.html
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edgarblythe
 
  1  
Reply Sun 24 Feb, 2008 07:44 am
dadpad wrote:
Most forms are available online these days edgar. Do you know what you need?

Heres a link to the IRS taxpayer assistance centers.

http://www.irs.gov/localcontacts/index.html

I'm guessing here but this may be relevent

If you do not receive your Form W-2, Form 1099-R, Form 1099-INT, or Form 1099-MISC by January 31st , or your information is incorrect, contact your employer/payer.

If you do not receive the missing or corrected form by February 15th from your employer/payer, you may call the IRS at 1-800-829-1040 for assistance. You must provide your name, address (including zip code), phone number, Social Security Number, dates of employment, your employer/payer's name, address (including zip code), and phone number. The IRS will contact the employer/payer for you and request the missing form. IRS will also send you a Form 4852 (PDF), Substitute for Form W-2 or Form 1099-R.

If you do not receive the missing form in sufficient time to file your tax return timely, you may use the Form 4852.

http://www.irs.gov/taxtopics/tc154.html


That's the information I needed. Thanks, o pad of dadness.
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fishin
 
  1  
Reply Sun 24 Feb, 2008 08:09 am
Something else that may or may not be relevant here (since you didn't mention what the settlement was concerning): Some insurance settlements aren't taxable income and don't need to be reported at all. Included in that are
- "Life insurance proceeds received because of the death of an individual"
- "Accident and health insurance proceeds, including certain long term care insurance contracts"

and
- "Amounts received under a worker's compensation act for an occupational sickness or injury".



http://www.irs.gov/faqs/faq-kw22.html
http://www.irs.gov/taxtopics/tc422.html
http://www.irs.gov/publications/p525/ar02.html#d0e6473
0 Replies
 
edgarblythe
 
  1  
Reply Sun 24 Feb, 2008 08:21 am
fishin wrote:
Something else that may or may not be relevant here (since you didn't mention what the settlement was concerning): Some insurance settlements aren't taxable income and don't need to be reported at all. Included in that are
- "Life insurance proceeds received because of the death of an individual"
- "Accident and health insurance proceeds, including certain long term care insurance contracts"

and
- "Amounts received under a worker's compensation act for an occupational sickness or injury".



http://www.irs.gov/faqs/faq-kw22.html
http://www.irs.gov/taxtopics/tc422.html
http://www.irs.gov/publications/p525/ar02.html#d0e6473


Thanks, fishin. But, dadpad got it. It concerns deceptive practices by an insurance company, selling an auto.
0 Replies
 
fishin
 
  1  
Reply Sun 24 Feb, 2008 08:26 am
edgarblythe wrote:
fishin wrote:
Something else that may or may not be relevant here (since you didn't mention what the settlement was concerning): Some insurance settlements aren't taxable income and don't need to be reported at all. Included in that are
- "Life insurance proceeds received because of the death of an individual"
- "Accident and health insurance proceeds, including certain long term care insurance contracts"

and
- "Amounts received under a worker's compensation act for an occupational sickness or injury".



http://www.irs.gov/faqs/faq-kw22.html
http://www.irs.gov/taxtopics/tc422.html
http://www.irs.gov/publications/p525/ar02.html#d0e6473


Thanks, fishin. But, dadpad got it. It concerns deceptive practices by an insurance company, selling an auto.


*nods* Yep. That doesn't sound like something you could get away with claiming that it isn't taxable... bummer.
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