Equity Update

I’m not sure when we worked together Steve?

And don’t tell me I know. Working with me I’m sure was a terrible experience right?

And Forums used to be way more than 2%. That's why I’m saying it’s dead. Again I’m gone for a few days and it’s nothing but

“Weez, weez, weez, weez”

Hell they can’t even STFU about 700UW and he’s “officially” been gone for almost 2 years.

Some of these posters have just become totally pathetic!!!!!

A few Cs's I picked up in DFW. I want to say around A21

As far as you coming or going here that's your call, but honestly the forum get boring with everyone just agreeing, they need someone in a black hat. We don't always agree but I personally enjoy debating with opposing views. Sometimes I purposefully take an opposite opinion to yours just to have some fun
 
Assuming there are no tax issues, the next obstacle is getting a mechanism to do a physical distribution.

If a 1099 would be allowed then ComputerShare would be able to handle the distribution and none of this would be an issue.

Apparently, the IRS wants to declare this payout as earnings, needing a W-2. That being the case the TWU would need to get a W-4 from each eligible Member in order to do the payout. That would a logistical nightmare with thousands of Members all over the country. They would need to get addresses, social security numbers and signatures which would be daunting and time consuming. That's why they're hoping the airline does it since they already have all that on file.

Have the irs said why they want to classify capital gains made as income requiring a W2? Fidelity always does a 1099 for capital gains, what is the difference
 
We have been waiting since October for clarity, eventually someone has to call B.S.

In the future can we get an update from our tax lawyers. I'm kinda tired of this. It's like asking your pizza guy to do an engine overhaul on your car, sure maybe he could figure it out but why not take it to a professional

the thing is, the retirees lost the case. they will not pay the taxes owned.

we will pay the taxes owed. i get that part.

i believe the final tally in the fund was over $80 million? the fund grew from apprx. $40 million of formerly held shares, sold....to over $80 million after the litigation?

someone has to pay for a wall. the people and entities that can most afford to pay, got tax cuts.
 
A few Cs's I picked up in DFW. I want to say around A21

As far as you coming or going here that's your call, but honestly the forum get boring with everyone just agreeing, they need someone in a black hat. We don't always agree but I personally enjoy debating with opposing views. Sometimes I purposefully take an opposite opinion to yours just to have some fun

Wow. A21 goes back about a hundred years ago. I was the first guy to push out the 777 off that gate. Carty was upstairs having a party at the gate.

You do? You Bastard. You suck, lol.
 
the way i read the letter is that the fund grew nearly 50% after the twu sold the shares. so, the twu is on the hook for taxes for some $40 million.

these shares were not distributed to us, so, i believe these shares are subject from the first $1 of gains and also subject to interest earned after being sold and held in a trust. the shares we have already received, other shares due to us were held back to pay capital gains up to the IPO price.

it doesn't seem as though the twu was getting consul and advice about the aftermath of the expected court victory. you'd think that's a given...i assume they pay retainers to tax attorneys and tax accountants.

messy, though it appears it did not have to be this way at all.


If more posters on here were like you and Steve I’d gladly stick around and we could have conversations without all the idiocy.

Too bad that ain’t happening.
 
Let's also not forget the taxes that will hit you again at end of year for the gains which are considered "income" at tax time again. Also do not forget our brothers and sisters that live in all the state taxed states who will get hit for a third time on the gain taxes. Yes it could very well be at, near or even, maybe, higher than the 50% for taxes. Not sure where the NY'ers and New Jersey folks sit for their high end tax rates. Hey Steve, w, doesn't have a clue what he is talking about, NY'er does as you can see.


DILLY! DILLY!


DILLY! DILLY!

The capital gains will be taken care of by the TWU BEFORE distribution. We will get the Equity as earnings so we'll pay taxes based as income, not capital gains.
 
Have the irs said why they want to classify capital gains made as income requiring a W2? Fidelity always does a 1099 for capital gains, what is the difference

The tax implications are dire for us if they require the W-2.

If the IRS allowed a 1099 then the distribution would be made minus the taxes owed for capital gains and our tax exposure would depend on our individual situation at the time we file our taxes.

If it is a W-2, the capital gains would be taken before a distribution. At that point because the distribution of the remaining funds would be determined to be "earnings" then that requires each of us to pay our normal bi-weekly income taxes but it would also require additional payroll taxes to be paid by the "employer," who would be the entity doing the actual distribution. (At this point that will either be AAL or the TWU)

With a W-2, it seems the capital gains, payroll taxes and our income taxes would take a giant bite out if the total.
 
The tax implications are dire for us if they require the W-2.

If the IRS allowed a 1099 then the distribution would be made minus the taxes owed for capital gains and our tax exposure would depend on our individual situation at the time we file our taxes.

If it is a W-2, the capital gains would be taken before a distribution. At that point because the distribution of the remaining funds would be determined to be "earnings" then that requires each of us to pay our normal bi-weekly income taxes but it would also require additional payroll taxes to be paid by the "employer," who would be the entity doing the actual distribution. (At this point that will either be AAL or the TWU)

With a W-2, it seems the capital gains, payroll taxes and our income taxes would take a giant bite out if the total.

So hypothetically this issue has been the main point since October. And I realize anything government is never in a rush, but what would be an acceptable time frame for a definitive answer. I'll beat this dead horse again, this should have started in July. Asking these tax questions, preparing a plan A and plan B. It's crying over spilled milk but that doesn't make it any better
 
So hypothetically this issue has been the main point since October. And I realize anything government is never in a rush, but what would be an acceptable time frame for a definitive answer. I'll beat this dead horse again, this should have started in July. Asking these tax questions, preparing a plan A and plan B. It's crying over spilled milk but that doesn't make it any better

Agreed. This process should have started much sooner.

To me, it seems these roadblocks have been coming up as they moved through the logistics of a distribution.

They hoped LAA would do, but they weren't game. Then they contacted ComputerShare, who seemed willing, but unable because of the IRS requirements.

Now they've moved back to LAA in the hope they don't have to eventually get a payroll company to distribute or have the IRS change their current determination.
 
Agreed. This process should have started much sooner.

To me, it seems these roadblocks have been coming up as they moved through the logistics of a distribution.

They hoped LAA would do, but they weren't game. Then they contacted ComputerShare, who seemed willing, but unable because of the IRS requirements.

Now they've moved back to LAA in the hope they don't have to eventually get a payroll company to distribute or have the IRS change their current determination.

So the only holdup now is who is doing the actual distribution?
 
If more posters on here were like you and Steve I’d gladly stick around and we could have conversations without all the idiocy.

Too bad that ain’t happening.
Stop your whining clown and either stay or go. You act like someone is begging you to stay. Hey, we don't give a f***.
 
There is one upside to the delay.
With the markets massive upswing of very late, I have to believe that $80 million is now somewhat north of that.
Maybe, a TWU rep can chime in what the value currently is? The money is still invested as of today even though the stock was sold.
 
Stop your whining clown and either stay or go. You act like someone is begging you to stay. Hey, we don't give a f***.

Of course you want me to stay here Garbageman. Otherwise you wouldn’t keep responding to me.

Hey I bet you try again to get in that last word. You can’t control yourself and it will show you’re angry ARGH ARGH ARGH ARGH!!!!!! LMFAO.

Hey how fast you think you’ll spend that Equity Check when you “finally” get it?

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Hey Tim Nelson if you drop in even though it’s so rare for you lately you may not want to listen to this tune. Since you went to School to try and become a Priest this could be a little too much for your little ears.

Not sure if this is my favorite on the Album or maybe “Burn MF”?

Parental Advisory.

 

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