Equifax Data Breach Settlement

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tenkuky
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Re: Equifax Data Breach Settlement

Post by tenkuky »

Haven't got ours yet, but question...
Is this taxable and to put on return?
miamivice
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Re: Equifax Data Breach Settlement

Post by miamivice »

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
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Re: Equifax Data Breach Settlement

Post by MGBMartin »

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.
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Cheez-It Guy
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Re: Equifax Data Breach Settlement

Post by Cheez-It Guy »

$8.73 PayPal here! Times 3 affected family members. Big time!
Nyc10036
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Re: Equifax Data Breach Settlement

Post by Nyc10036 »

I don't have a Paypal Cash account, so I guess I am getting a check. :(
stan1
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Re: Equifax Data Breach Settlement

Post by stan1 »

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.
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Cheez-It Guy
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Re: Equifax Data Breach Settlement

Post by Cheez-It Guy »

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.
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anon_investor
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Re: Equifax Data Breach Settlement

Post by anon_investor »

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
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Re: Equifax Data Breach Settlement

Post by tj »

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.
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anon_investor
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Re: Equifax Data Breach Settlement

Post by anon_investor »

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
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Re: Equifax Data Breach Settlement

Post by tj »

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.
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Cheez-It Guy
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Re: Equifax Data Breach Settlement

Post by Cheez-It Guy »

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
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Re: Equifax Data Breach Settlement

Post by MGBMartin »

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.
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safari
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Re: Equifax Data Breach Settlement

Post by safari »

I just received $17.17 via PayPal.
BlahBlahNyborg
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Re: Equifax Data Breach Settlement

Post by BlahBlahNyborg »

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
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Re: Equifax Data Breach Settlement

Post by JBTX »

$40. Woohoo! I can retire now.
tj
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Re: Equifax Data Breach Settlement

Post by tj »

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
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Re: Equifax Data Breach Settlement

Post by BlahBlahNyborg »

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
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Equifax settlement received

Post by mhalley »

[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?
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auntie
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Re: Equifax settlement received

Post by auntie »

I got mine.
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Michael Patrick
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Re: Equifax settlement received

Post by Michael Patrick »

Yep. Not even enough to buy a pizza.
A440
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Re: Equifax settlement received

Post by A440 »

Yep. $5.21
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softwaregeek
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Re: Equifax settlement received

Post by softwaregeek »

$21.06.
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Mlm
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Re: Equifax Data Breach Settlement

Post by Mlm »

received a check today $19.30 :moneybag
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tenkuky
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Re: Equifax Data Breach Settlement

Post by tenkuky »

Still haven't received ours.
Should I be worried?
Anyone else still waiting?
IowaFarmWife
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Re: Equifax Data Breach Settlement

Post by IowaFarmWife »

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.
"A nickel ain't worth a dime anymore." Yogi Berra's financial wisdom.
student
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Re: Equifax Data Breach Settlement

Post by student »

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
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Re: Equifax Data Breach Settlement

Post by Atlantic_ave »

$17.61 via paypal on dec. 20
vg55
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Re: Equifax settlement received

Post by vg55 »

My wife and I each received a check for $19.30.
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arcticpineapplecorp.
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Re: Equifax settlement received

Post by arcticpineapplecorp. »

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.
Last edited by arcticpineapplecorp. on Sat Jan 14, 2023 4:28 pm, edited 1 time in total.
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MGBMartin
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Re: Equifax settlement received

Post by MGBMartin »

$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.
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whodidntante
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Re: Equifax settlement received

Post by whodidntante »

Justice! :happy
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sedaliachris
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Re: Equifax settlement received

Post by sedaliachris »

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. 8-)
hicabob
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Re: Equifax settlement received

Post by hicabob »

A big $8.73 here.
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LadyGeek
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Re: Equifax Data Breach Settlement

Post by LadyGeek »

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.)
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BolderBoy
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Re: Equifax Data Breach Settlement

Post by BolderBoy »

Received mine for $2.64 on Jan 10.

Woo Hoo!
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hoofaman
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Re: Equifax Data Breach Settlement

Post by hoofaman »

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
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Re: Equifax Data Breach Settlement

Post by tenkuky »

Still nothing here :annoyed
campy2010
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Re: Equifax Data Breach Settlement

Post by campy2010 »

22.50 by check. Curious why there are different payments. Anyone know?
HappyPappy
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Re: Equifax Data Breach Settlement

Post by HappyPappy »

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.
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Mel Lindauer
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Re: Equifax Data Breach Settlement

Post by Mel Lindauer »

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.
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rossington
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Re: Equifax Data Breach Settlement

Post by rossington »

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.
"Success is going from failure to failure without loss of enthusiasm." Winston Churchill.
afan
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Re: Equifax Data Breach Settlement

Post by afan »

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.
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anon_investor
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Re: Equifax Data Breach Settlement

Post by anon_investor »

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
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Re: Equifax Data Breach Settlement

Post by Gadget »

Spouse and I both got $22.82. I find it strange that the amounts seem to be varying wildly.
Bcdkgf
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Re: Equifax Data Breach Settlement

Post by Bcdkgf »

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?
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SmileyFace
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Re: Equifax Data Breach Settlement

Post by SmileyFace »

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
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Re: Equifax Data Breach Settlement

Post by IowaFarmWife »

Mine finally came today- $5.21. DH's check was the same as mine.
"A nickel ain't worth a dime anymore." Yogi Berra's financial wisdom.
retireIn2020
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Re: Equifax Data Breach Settlement

Post by retireIn2020 »

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!
:shock:
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btq96r
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Re: Equifax Data Breach Settlement

Post by btq96r »

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