Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Tax Return Question??
I started doing my tax return and it says that I owe both federal and state money. When I was on long term disability most of last year, the insurance company did not take taxes out. Were they supposed to take the taxes out? Do I have to pay the money or is there something I can do to fix this? Thanks!
5 Answers
- Anonymous1 decade agoFavorite Answer
Some places are not required to take taxes out, and even if they "forget", you still owe.
You should be able to make payments to the IRS, rather than one lump sum. File a grievance and hope for the best!
- 1 decade ago
Sorry, it's still taxable income so you have to pay the tax on it. If you can't pay it all at once, then you can set up a payment plant with the IRS. I know, it sucks, but it will work out okay.
- JudyLv 71 decade ago
Depending on the type of disability payments you received and their source and who paid the premiums, the benefits might be taxable to you. If they are, then you will just have to pay it since you didn't have anything withheld.
- MarshaLv 61 decade ago
Any Tax Return office should be able to advise you or advise online sites you may be able to check.
Also check the question panels on IRS.Gov
- How do you think about the answers? You can sign in to vote the answer.
- Anonymous1 decade ago
If you owe, you owe. Even if they had withheld the money, this was your money so it doesn't change anything.
(Withholding from non-wage income is voluntary.)
