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Alexander vs. Fedex Willis vs. Fedex
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<blockquote data-quote="dmac1" data-source="post: 3341530" data-attributes="member: 60252"><p>Hopefully you are in a lower tax bracket now than you were during the time the settlement covers. </p><p></p><p>Read some more info that might indicate that you may need to pay SE taxes on the settlement. What I read was this:</p><p><a href="https://www.irs.gov/pub/irs-utl/lawsuitesawardssettlements.pdf" target="_blank">https://www.irs.gov/pub/irs-utl/lawsuitesawardssettlements.pdf</a></p><p></p><p>The award could be considered as income from self-employment, meaning another 15.3% in FICA taxes on top of the income tax. Hopefully the IRS is so short-handed that they are ignoring any tax returns where the filer has less than $100k reported to them on W-2 and 1099s. I'm going to completely ignore the SE taxes because of the ruling that Oregon drivers were employees. If the IRS asks, I'll tell them to go after fedex as the employer. I paid the employer AND employee share of FICA taxes, and paid more than my share overall.</p></blockquote><p></p>
[QUOTE="dmac1, post: 3341530, member: 60252"] Hopefully you are in a lower tax bracket now than you were during the time the settlement covers. Read some more info that might indicate that you may need to pay SE taxes on the settlement. What I read was this: [URL]https://www.irs.gov/pub/irs-utl/lawsuitesawardssettlements.pdf[/URL] The award could be considered as income from self-employment, meaning another 15.3% in FICA taxes on top of the income tax. Hopefully the IRS is so short-handed that they are ignoring any tax returns where the filer has less than $100k reported to them on W-2 and 1099s. I'm going to completely ignore the SE taxes because of the ruling that Oregon drivers were employees. If the IRS asks, I'll tell them to go after fedex as the employer. I paid the employer AND employee share of FICA taxes, and paid more than my share overall. [/QUOTE]
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