Bogleheads.org

Personally, I would want my own earnings history if I'd earned it. Social Security should be able to correct the mistakenly applied earnings, at least for the past three years, and perhaps even further back.

https://www.ssa.gov/OP_Home/cfr20/404/404-0822.htm

Svensk Anga wrote: ↑Wed Mar 08, 2023 12:57 pm

Have you been married at least 10 years? If so, she would be entitled to a benefit on your record in case of divorce and her own record is of less concern.

Wouldn't the wife only be entitled to one half of the husband's benefit in case of a divorce?

Maybe file a complaint with the Consumer Financial Protection Bureau?

https://www.consumerfinance.gov/complaint/

From the IRS website ...

"The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns ...

... people in the following states do not need to report these state payments on their 2022 tax return: California ..."

That certainly sounds like the 1099-MISC does not have to be reported at all.

Just saw this ...

"The IRS just issued just a few minutes ago a directive that taxpayers in California will not need to report the payments on their 2022 tax returns," said Norman Golden, IRS enrolled agent. "My clients and taxpayers in California will be very happy the IRS is not going to tax them on these payments."

Note: Enrolled agent Golden says he will still advise clients to report the 1099 on their tax forms, but back out the income using the "general welfare" exclusion. This is to prevent the IRS from coming back to say you didn't report a 1099, since those forms are reported to the IRS.

Full report ...

https://abc7news.com/middle-class-tax-r ... /12798317/

Does this mean that I don't have to include my 1099-misc at all on my federal return? Or should I include it on line 8z of Schedule 1 and then deduct it on line 24z? I'm not sure how I should proceed. (I am using free fillable forms on IRS site)

bmelikia wrote: ↑Fri Feb 10, 2023 9:23 am Has anyone seen an update on this? Or are we still waiting on an official response from the IRS?

I've been keeping an eye on the IRS's Statements and Announcements page. Nothing so far.

https://www.irs.gov/newsroom/irs-statem ... ouncements

Undisclosed wrote: ↑Thu Feb 09, 2023 12:39 pm
Did the bonus post yesterday and you got the email today or did it post today and you got the email today as well?

My bonus posted yesterday and I got the email this morning. This is the first and only email I received regarding the bonus. I did not receive a confirmation email or any progress updates that others received.

My bonus posted as well!

The IRS issued this statement to KCRA 3 (Sacramento) on Friday: "The IRS is aware of questions involving special tax refunds or payments made by states in 2022; we are working with state tax officials as quickly as possible to provide additional information and clarity for taxpayers. There are a variety of state programs that distributed these payments in 2022 and the rules surrounding them are complex. We expect to provide additional clarity for as many states and taxpayers as possible next week." The agency said it recommended that people wait until that guidance is available or consult with a reputable tax professional. "For taxpayers and tax preparers with questions, the best course of action is to wait for additional cla...

Congressman Kevin Kiley asked the IRS for clarification.

https://htv-prod-media.s3.amazonaws.com ... 371618.pdf

I got a 1099-MISC. They are issued for a MCTR over $600. I reported it on IRS Schedule 1, line 8z (other income), and on the California CA(540) Adjustments, section B (additional income), line 8z (other income), as per their instructions. (Not taxable for California) Middle Class Tax Refund – The California Middle Class Tax Refund is a one-time payment issued to provide relief to qualified recipients. California excludes this payment from gross income. For more information, see Schedule CA (540) specific line instructions in Part I, Section B, line 8z. Middle Class Tax Refund – California excludes the Middle Class Tax Refund payment from gross income. If you received the Middle Class Tax Refund payment and you included this payment as incom...

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On my 1099-R, the full amount of the distribution is on line 16. No tax withheld.

I called Vanguard's fixed income department today and they said that yes, I can buy a T-bill at auction with no money in my settlement fund if I have an existing T-bill maturing on the same date as the settlement date of the new T-bill.

I want to build a T-bill ladder at Vanguard where there is no auto roll feature available. I’m confused about when I should buy a new T-bill when one is maturing. Do I want the maturity date of the expiring T-bill to correspond to the new T-bill’s settlement date or the auction date? I’m assuming it is ideal to coordinate the maturity date with the settlement date because I saw this on Fidelity’s auto roll service agreement … For a maturing U.S. Treasury security, the Auto Roll Service will begin searching for a Reinvestment Position whose settlement date corresponds to the stated maturity date of the Maturing Position. Will Vanguard allow me to buy a T-bill if I don’t have enough in my settlement fund to cover the cost of the new T-bill un...

Thank you!

I apologize if this is a silly question, but I'm confused as I've never purchased t-bills before and just recently started learning about them. Ive read a lot of threads here lately where t-bills are promoted. I was planning to buy a t-bill ladder this week of 4 week, 8 week, and 13 week t-bills through Vanguard. The 4-week bill has an indicative yield of 3.703 which, as I understand it, is an estimate of what I might expect to receive. The 8-week t-bill has an indicative yield of 4.073. Vanguard lists the 7-day yield on my settlement fund as 4.05%. Is my money market settlement fund paying more than I would receive on a 4-week t-bill?

mikep wrote: ↑Sun Dec 18, 2022 11:33 am My deceased father received a debit card.. he passed in June 2022.

I suspect I need to send it back? If I send it back how to prevent the 1099-MISC filed for him?

Deceased eligible individuals

Deceased individuals that did not use the single filing status, or that claimed another person as a dependent on their 2020 tax return, may qualify for the payment. The payment is not available for individuals deceased on the day the payment would be issued and that used a single filing status without a dependent.

Im in Southern California and get Kaiser Medicare Advantage for zero premium. Dental coverage is included, but it is minimal and my dentist is not in their "network" so I don't use it. Optional "Advantage Plus" is $15 a month and provides an eyewear and hearing aid allowance. I've had Kaiser for many years and have been happy there so I stayed when I went on Medicare last year.

I did a Roth conversion at Vanguard last week. I did not receive a confirmation text or email, but I was definitely able to view the pending transaction on the website. The process was completed the following day, not exactly sure what time, but in the morning.

Edit to add: Immediately after I made the conversion, there was a confirmation page with a confirmation number displayed.

… As long as you have the email and don't do anything to disqualify yourself from it, I would think you are good to go. If you scroll back to mid mid November, unfortunately not everyone received that email. I still think that in the end this will work out okay for everyone who followed the rules, but it is frustrating how poorly run the promo is. I guess not following the rules = no e-mail confirmation. Doesn't seem unreasonable to me on Ally's side. I've done a number of these with Ally - always got the bonus, but also always followed the rules. People on here wanting to move funds around between the funding date and Jan 15th and seem to want to conclude that won't impact their bonus :oops: Others want to open NP CD's and conclude that i...

Thanks all

brew wrote: ↑Wed Nov 30, 2022 3:46 pm ... starting to convert their traditional IRAs to Roth up to the top of their tax bracket every year

Thanks.

Don't conversions have their own separate five-year clock for each converted amount? I have a 20 year old roth and just did a conversion this year. It is my understanding that the converted amount cannot be withdrawn for five years, even though my Roth is older than five years and I am over 59 1/2.

iln1980 wrote: ↑Tue Nov 29, 2022 6:04 pm and would it be better for her to collect the social security numbers on all 12 of us and input this beneficiary info into Vanguard?

Vanguard didn't ask for social security numbers for my beneficiaries, just legal name and birthdate.

Im confused as to why they are sending 1099-misc rather than 1099-G.

Rebates over $600 will receive a 1099.

mix wrote: ↑Wed Nov 16, 2022 3:53 pm I received the email confirmation "You’ve reached the funding finish line" on November 8th. I pushed $50k into my savings account from Fidelity on November 1st.

Did you first receive the email confirming you had enrolled in the promo?

When I didn't receive the promo confirmation email from Ally, I called and spoke to a supervisor who opened a "ticket" about the issue and told me someone would research it and get back to me in 7-10 days. When I didn't hear from them after the 7-10 day period, I called and spoke to another supervisor who told me that they are not researching anything promo related until after the promo is over and the bonuses have been paid. He said there was a lot of confusion over there and a lot of calls regarding this promo offer. I asked what was the point of opening the ticket if they weren't going to actually look into it, and he said he didn't know, but they weren't doing that (opening tickets) anymore. Basically, their answer to me is wa...

TravelGeek wrote: ↑Tue Nov 15, 2022 1:12 pm

Philly30 wrote: ↑Tue Nov 15, 2022 11:31 am Still no email confirming my deposit and it has been well over 2 weeks.

I received two confirmation emails for my enrollment in the promo, but no confirmation of the deposit.

No promo confirmation email for me either, going on 3 weeks.

maywood wrote: ↑Tue Nov 08, 2022 3:27 pm It took more than 2 weeks from the time I initiated the transfer, but today I got an email from Ally confirming that I had made the deposit to get my bonus. The email subject line was "You've reached the funding finish line"

That makes me feel a little bit better as I still haven't received the confirmation email and it will be two weeks tomorrow since I initiated the transfer. I hope they are just backlogged and my confirmation will be coming soon. There was no mention of the bonus in any of my emails.

Yes, checked spam folder. I have received other emails from Ally and they are going to my inbox. Just haven't received anything regarding the bonus.

I signed up for the Ally Bank "getpaid" promotion by opening a new savings account. I used the promo code and my screenshot of the account summary after I completed opening the account showed that the "get paid" promo code was applied. I opened the account on October 26 (the last day of the promo) and my transfer was completed on October 31 (the deadline for funding was Nov 4). According to Ally's promotion material under the question "How do I know if I was successful in enrolling for the cash bonus?", they answer, "you will receive a Cash Bonus account opening confirmation email 2-3 days after you open your Ally account." Today is the 6th business day and I still haven't received that email. All I g...