Equifax Data Breach Settlement

tenkuky · Post by **tenkuky** » Tue Dec 20, 2022 10:18 am

Haven't got ours yet, but question...
Is this taxable and to put on return?

miamivice · Post by **miamivice** » Tue Dec 20, 2022 11:16 am

I really wanted to start a thread "How should I spend $5.21?" in reference to the equifax settlement (I received mine today). But I thought better of it.

MGBMartin · Post by **MGBMartin** » Tue Dec 20, 2022 11:23 am

tenkuky wrote: ↑Tue Dec 20, 2022 10:18 am Haven't got ours yet, but question...
Is this taxable and to put on return?

Me neither, same for my mrs.
I was really hoping they would show up before Christmas otherwise there’s not going to be a Christmas.

Cheez-It Guy · Post by **Cheez-It Guy** » Tue Dec 20, 2022 4:08 pm

$8.73 PayPal here! Times 3 affected family members. Big time!

Nyc10036 · Post by **Nyc10036** » Tue Dec 20, 2022 4:38 pm

I don't have a Paypal Cash account, so I guess I am getting a check.

stan1 · Post by **stan1** » Tue Dec 20, 2022 6:09 pm

tenkuky wrote: ↑Tue Dec 20, 2022 10:18 am Haven't got ours yet, but question...
Is this taxable and to put on return?

De minimis for me at $10, well under $600 so no 1099.

Cheez-It Guy · Post by **Cheez-It Guy** » Tue Dec 20, 2022 6:24 pm

That doesn't really answer the question, though. Just a comment on your specific circumstances. I wouldn't THINK this should be taxable, but I have not looked into it.

anon_investor · Post by **anon_investor** » Tue Dec 20, 2022 7:32 pm

czaj wrote: ↑Tue Dec 20, 2022 10:15 am $5.21 via PayPal yesterday for both spouse and me…

Ha! I received the same exact amount. Not even enough to buy a meal at a fast food place...

tj · Post by tj » Tue Dec 20, 2022 8:07 pm

I got $7.02 - no idea why people are getting different amounts.

Apparently I had a Plaid class action payout waiting for me in PayPal as well.

anon_investor · Post by **anon_investor** » Tue Dec 20, 2022 8:11 pm

tj wrote: ↑Tue Dec 20, 2022 8:07 pm I got $7.02 - no idea why people are getting different amounts.

Apparently I had a Plaid class action payout waiting for me in PayPal as well.

I got more from the Plaid class action ($35.97) than the e
Equifax one ($5.21)!

tj · Post by tj » Tue Dec 20, 2022 8:11 pm

anon_investor wrote: ↑Tue Dec 20, 2022 8:11 pm
tj wrote: ↑Tue Dec 20, 2022 8:07 pm I got $7.02 - no idea why people are getting different amounts.

Apparently I had a Plaid class action payout waiting for me in PayPal as well.
I got more from the Plaid class action ($35.97) than the e
Equifax one ($5.21)!

I believe that is what I got from Plaid as well.

Cheez-It Guy · Post by **Cheez-It Guy** » Tue Dec 20, 2022 8:15 pm

People are getting different amounts because they filled out the settlement claim form details differently including the estimates for time spent dealing with the fallout (credit freezes, etc.)

MGBMartin · Post by **MGBMartin** » Tue Dec 20, 2022 9:30 pm

Just got an email notifying me of my payment, $20.62.
“Yes Virginia, there is a Santa Claus”

Better than nothing I guess but I file documents indicating the time I’d spent stopping a identity theft attempt but they kept sending me emails telling me the documents were not adequate.

safari · Post by **safari** » Wed Dec 21, 2022 1:57 pm

I just received $17.17 via PayPal.

BlahBlahNyborg · Post by **BlahBlahNyborg** » Wed Dec 21, 2022 2:04 pm

tenkuky wrote: ↑Tue Dec 20, 2022 10:18 am Haven't got ours yet, but question...
Is this taxable and to put on return?

[Note: I'm not a tax professional]

I believe the answer is yes, it's taxable. It's such a tiny amount and well below the minimum for requiring a report to the IRS. So you just self-report it yourself as Other Income on your 1040.

JBTX · Post by **JBTX** » Wed Dec 21, 2022 2:45 pm

$40. Woohoo! I can retire now.

tj · Post by tj » Wed Dec 21, 2022 2:56 pm

BlahBlahNyborg wrote: ↑Wed Dec 21, 2022 2:04 pm
tenkuky wrote: ↑Tue Dec 20, 2022 10:18 am Haven't got ours yet, but question...
Is this taxable and to put on return?
[Note: I'm not a tax professional]

I believe the answer is yes, it's taxable. It's such a tiny amount and well below the minimum for requiring a report to the IRS. So you just self-report it yourself as Other Income on your 1040.

It depends.

https://www.irs.gov/government-entities ... the%20code.?

BlahBlahNyborg · Post by **BlahBlahNyborg** » Wed Dec 21, 2022 4:26 pm

tj wrote: ↑Wed Dec 21, 2022 2:56 pm
BlahBlahNyborg wrote: ↑Wed Dec 21, 2022 2:04 pm
tenkuky wrote: ↑Tue Dec 20, 2022 10:18 am Haven't got ours yet, but question...
Is this taxable and to put on return?
[Note: I'm not a tax professional]

I believe the answer is yes, it's taxable. It's such a tiny amount and well below the minimum for requiring a report to the IRS. So you just self-report it yourself as Other Income on your 1040.
It depends.

https://www.irs.gov/government-entities ... the%20code.?

Ah yes, it always depends on something. Good catch.

But I think that IRS document only says it's not taxable if the settlement was for physical injury. (Pulling my hair out while on hold with Equifax for hours probably doesn't count.)

mhalley · Post by **mhalley** » Thu Dec 22, 2022 12:38 am

[Thread merged into here --admin LadyGeek]

Woo-hoo! Got my equifax settlement from the breach for the sum of $5.21. Bummer is they suggested I contact my tax advisor with regards to the tax treatment of this generous settlement. Feeling sorry for the lawyers who only got 77 million. To make this actionable, anyone else got theirs yet?

auntie · Post by **auntie** » Thu Dec 22, 2022 7:07 am

I got mine.

Michael Patrick · Post by **Michael Patrick** » Thu Dec 22, 2022 7:32 am

Yep. Not even enough to buy a pizza.

A440 · Post by **A440** » Wed Dec 28, 2022 11:36 am

Yep. $5.21

softwaregeek · Post by **softwaregeek** » Wed Dec 28, 2022 11:36 am

$21.06.

Mlm · Post by **Mlm** » Tue Jan 03, 2023 1:26 pm

received a check today $19.30

tenkuky · Post by **tenkuky** » Tue Jan 03, 2023 6:07 pm

Still haven't received ours.
Should I be worried?
Anyone else still waiting?

IowaFarmWife · Post by **IowaFarmWife** » Tue Jan 03, 2023 7:12 pm

tenkuky wrote: ↑Tue Jan 03, 2023 6:07 pm Still haven't received ours.
Should I be worried?
Anyone else still waiting?

Still waiting myself.

student · Post by **student** » Tue Jan 03, 2023 7:22 pm

IowaFarmWife wrote: ↑Tue Jan 03, 2023 7:12 pm
tenkuky wrote: ↑Tue Jan 03, 2023 6:07 pm Still haven't received ours.
Should I be worried?
Anyone else still waiting?
Still waiting myself.

Me too.......

Atlantic_ave · Post by **Atlantic_ave** » Tue Jan 03, 2023 7:50 pm

$17.61 via paypal on dec. 20

vg55 · Post by **vg55** » Sat Jan 14, 2023 12:11 pm

My wife and I each received a check for $19.30.

arcticpineapplecorp. · Sat Jan 14, 2023 4:28 pm

yes, i and girlfriend got the same amount $5.21. don't spend it all in one place. I believe the lawyers got a little more.

MGBMartin · Post by **MGBMartin** » Sat Jan 14, 2023 4:28 pm

$5.21 seems to be common. My wife got her check today for that amount; not even sure if that’s enough for a happy meal these days.
I got $21 and change a few weeks ago via PayPal.

whodidntante · Post by **whodidntante** » Sat Jan 14, 2023 4:52 pm

Justice!

sedaliachris · Post by **sedaliachris** » Sat Jan 14, 2023 7:30 pm

My wife and I each received the Equifax settlement for $15.77.

From the Equifaxbreachsettlement.com site:

9/2017 Equifax announces security breach impacts 147 million people.

1/22/2020 is the deadline to file for initial claims for free monitoring or up to $125 cash reimbursement.

1/5/2023 Checks issued.

hicabob · Post by **hicabob** » Sat Jan 14, 2023 7:34 pm

A big $8.73 here.

Post by **LadyGeek** » Sat Jan 14, 2023 7:45 pm

This thread is now in the Personal Finance (Not Investing) forum (legal settlement).

I merged mhalley's thread into the ongoing discussion.

(Thanks to the member who reported the post and provided a link to this thread.)

BolderBoy · Post by **BolderBoy** » Sat Jan 14, 2023 10:00 pm

Received mine for $2.64 on Jan 10.

Woo Hoo!

hoofaman · Post by **hoofaman** » Sun Jan 22, 2023 7:30 pm

I got mine, it was $3. Interesting to see the variation here from other posters. It was so long ago that I can't even remember the details of what I filled out to claim this

tenkuky · Post by **tenkuky** » Sun Jan 22, 2023 7:35 pm

Still nothing here

campy2010 · Post by **campy2010** » Sun Jan 22, 2023 9:36 pm

22.50 by check. Curious why there are different payments. Anyone know?

HappyPappy · Post by **HappyPappy** » Sun Jan 22, 2023 9:49 pm

czaj wrote: ↑Tue Dec 20, 2022 10:15 am $5.21 via PayPal yesterday for both spouse and me…

Don’t spend it all in one place.

Post by **Mel Lindauer** » Mon Jan 23, 2023 12:26 am

anon_investor wrote: ↑Tue Feb 01, 2022 5:06 pm What if you opted for the $, when will I get my 25 cents?

Just received a settlement check for $5 and some change last week. The lawyers got all the money and we got the leftovers.

rossington · Post by **rossington** » Mon Jan 23, 2023 5:56 am

Mel Lindauer wrote: ↑Mon Jan 23, 2023 12:26 am
anon_investor wrote: ↑Tue Feb 01, 2022 5:06 pm What if you opted for the $, when will I get my 25 cents?
Just received a settlement check for $5 and some change last week. The lawyers got all the money and we got the leftovers.

Sorry Mel, but if people who get these class action mailings would just use common sense and not participate then the slip and fall "legal" firms claiming to "represent" them would not get a dime.

afan · Post by **afan** » Mon Jan 23, 2023 7:58 am

But in this case, the lawyers did serve a social purpose by punishing Equifax. Of course, that was not their motivation but it was a favorable outcome.

anon_investor · Post by **anon_investor** » Mon Jan 23, 2023 8:21 am

Mel Lindauer wrote: ↑Mon Jan 23, 2023 12:26 am
anon_investor wrote: ↑Tue Feb 01, 2022 5:06 pm What if you opted for the $, when will I get my 25 cents?
Just received a settlement check for $5 and some change last week. The lawyers got all the money and we got the leftovers.

I received $5.21. Not even enough for a meal at McDonalds...

Gadget · Post by **Gadget** » Mon Jan 23, 2023 10:52 am

Spouse and I both got $22.82. I find it strange that the amounts seem to be varying wildly.

Bcdkgf · Post by **Bcdkgf** » Mon Jan 23, 2023 12:26 pm

I just received my check today, $22.82. How could this even be considered taxable when it is a settlement that fails to make me whole?

SmileyFace · Post by **SmileyFace** » Tue Jan 24, 2023 7:58 am

Spouse and I each got $5.21. All my info is out there and I keep get "credit card application denied" letters for cards I never applied to so I am so glad I got a healthy settlement to make up for all the aggravation. I am now dumping reports monthly.
This is criminal - they should have been made to pay real settlements or be shut down.

IowaFarmWife · Post by **IowaFarmWife** » Tue Jan 24, 2023 9:51 pm

Mine finally came today- $5.21. DH's check was the same as mine.

retireIn2020 · Post by **retireIn2020** » Wed Jan 25, 2023 12:24 am

After finding this thread I realized I used an old email address to file the claim back in, I think 2018 or 2019. I just logged in to that old account and found a couple Equifax emails with instructions to collect that expired months ago. Oh well, I guess I don't get a cheeseburger!

btq96r · Post by **btq96r** » Wed Jan 25, 2023 6:24 am

I think I'll play Mega Millions and grab a slushie with the $5.21 I got via check.