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shert term vs comp
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04-14-2008, 09:46 AM
Post: #1
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shert term vs comp
when I had an flare up of old comp injury,july in i was working for a new employer and had to go on std threw them until i got my comp case open,granted my new employer had no idea of this injury or comp claim when i was hired, not even sure if they know now? heres the thing i was on std for 26 wks i just got my claim reopened and i was only comprnsated for 19 wks. and will recieve no more money at all until worsening settelment. i know i need to pay std back .the thing is can they make me repay all26 wks? OR just the 19 which i was compensated for,and i had to pay 1600 in taxes to the irs because they didt take taxes off will i get that money back or a new w2 to ammend taxes because after i repay 19 wks i would only have gotten7 wks from them.and once i repay the 19 i have no money to live on until hearing i have applied for ssd but that can take a while.any help or advice will be greatly apreciated.
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04-14-2008, 09:53 AM
Post: #2
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RE: shert term vs comp
there are different criteria for each program. workers comp will reimburse state disability for the 19 weeks that were duplicated. you were still entitled under state disability rules to their payments.
as to how I believe you do not report either payments as income for the irs but you'll have to confirm with them. |
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04-14-2008, 11:35 AM
Post: #3
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RE: shert term vs comp
WC is NOT taxable by IRS, the STD is only taxable if FULLY paid by employer. See IRS Pub # 525 and Tax Topic 422. Do you contribute to the plan or pay for it completely? That would change the % amount that is taxable. If you live in a state with STD, that may be different as well. My state does not offer it, so am unfamiliar with how that would work. Will you also owe state tax on $? Did they automatically take the $ for IRS, or do you owe it? Personally, I would try to hold on to as much cash as possible to survive on! I hope someone with expertise comes on to help you, but in meantime check out the IRS.gov site, it may help. Good Luck! Maura in CT
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04-14-2008, 12:14 PM
(This post was last modified: 04-14-2008 12:16 PM by Billehou.)
Post: #4
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RE: shert term vs comp
the std was through my new employer which i worked and have since been left go,i payed only a few dollars a week for the coverage,and hartfod the std company sent me a w2 to be filled with my taxes and yes i hade to pay state taxes as well. my attorney said i need th repay with lost wage check i recieved.for the 19 weeks.thats my point i have had no income at all since dec.meds close to 800 month out of my pocket and comp just now covering them from march and on going no reembersment for them i was hoping i could make hartfor waite for rembersment until setterment as my faimly really needs the money,i will be moving next month and have to pay movers. comp and insurance company dont care about the hardship this has caused for my faimly.as i have lost my car and in process of surrendering my home back to mortgage company due to forclosure,and have already filled bankrupsy,i have a husband and a 6 yr daughter,she undestands i'm broken and we have to move and can not stay in our home.but with no money what do you do,accept pray, firm believer god dose not put anything on you cant handle.but it is very hard to understand why.so we have hit bottom and have no where to go but up.thats why i was wondering if hartford will want all 26 wks back because it was a comp injury from another company .any help or advice will help oh i owe the 1600 to irs.
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04-14-2008, 01:53 PM
Post: #5
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RE: shert term vs comp
I also was on STD, Taxes were taken from my check before I received it. but I did not have to pay it back as WC had denied my claim, Then when it was accepted the std ins co and WC fought it out, I paid nothing back, state or Fed. If taxes were not taken from your check that may be another story, You may owe the taxes. I am in Illinois. You could contact the STD Ins co and run it past them...
Life isn't about waiting for the storm to pass. It's about learning to dance in the rain. |
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04-14-2008, 02:46 PM
Post: #6
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RE: shert term vs comp
Tuffy Wrote:I also was on STD, Taxes were taken from my check before I received it. but I did not have to pay it back as WC had denied my claim, Then when it was accepted the std ins co and WC fought it out, I paid nothing back, state or Fed. If taxes were not taken from your check that may be another story, You may owe the taxes. I am in Illinois. You could contact the STD Ins co and run it past them... thats just it when i was trying to get comp case reopeaned i got std from hartford my lawer said i could not recieve both std and comp,i understand that,i just got comp to agree in late march that it was and is the same injury,they gave me a check for 19 wks which the dates on the check were for the same time i was recieving std. and i will recieve no more money from comp until settelment. |
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04-14-2008, 03:26 PM
Post: #7
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RE: shert term vs comp
That may be where the problem is, Is it possable that WC sent you the check instead of sending it to your STD ins co for reembursment?
Your attorney is right You can not collect from both at the same time. Can you have your attorney check with the WC carrier and see what the check was for, or for what and who. Good luck Life isn't about waiting for the storm to pass. It's about learning to dance in the rain. |
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04-14-2008, 05:48 PM
Post: #8
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RE: shert term vs comp
Tuffy Wrote:That may be where the problem is, Is it possable that WC sent you the check instead of sending it to your STD ins co for reembursment? yes the check was sent to mt attorney and my attorney sent it to me.the check was wrote out to me and the weeks on the check were for 19 of the same weeks i got std. |
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