I got a W2 from the insurance company that paid my long term disability.
It has one amount for "Wages, tips, and comp." and a totally different
and MUCH smaller amount for "social security wages" and "medicare
wages". Evidently they only withheld social security and medicare from
the lesser amount. Now, I presume I have to pay taxes on the larger
amount (which sucks because the customer service rep told me that the
payments weren't taxable when I asked why tax wasn't being taken out),
but why are the two amounts so different? Does anyone know?
Thanks,
Carole
Gwen Love - 05 Feb 2006 20:22 GMT
Carole, maybe you can find out by calling the Social Security office.
Gwen
>I got a W2 from the insurance company that paid my long term disability. It
>has one amount for "Wages, tips, and comp." and a totally different and
[quoted text clipped - 7 lines]
> Thanks,
> Carole
DeeTee and Bob Taggart - 06 Feb 2006 14:03 GMT
So they can charge you more. Don't get me started on taxes. One of the
most stupid taxes we face every year is when we file income taxes and get a
refund (of the money we overpaid), then they tax the refund! Grrrrrrrrrrrrr!
I know that it is then income that they're returning to us, but we have to
give them a chunk of it. I hate that.
DeeTee
>I got a W2 from the insurance company that paid my long term disability. It
>has one amount for "Wages, tips, and comp." and a totally different and
[quoted text clipped - 7 lines]
> Thanks,
> Carole