JP Morgan account added for equity shares
- Thread starter Vortilon
- Start date
On a related note: did they get approval to permit employees to defer taxes on the equity by giving you the option to direct the equity to your 401k? I think employees of the other bankrupt airlines had that option.
bob@las-AA
Veteran
This is a link to H.R 2591 to give us a break in the tax till the end.
But hasn't passed yet.
http://beta.congress.gov/bill/113th/house-bill/2591
But hasn't passed yet.
http://beta.congress.gov/bill/113th/house-bill/2591
The letter I received said that whatever equity I receive, the net proceeds to me will be minus an amount necessary to pay the taxes and "fees." Out of $100, I'm sure I'll clear at least $10, maybe $15.
Some recent J.P. Morgan headlines...
http://dealbook.nyti...al-stage/?_r=0f "SEC said to Press JPMorgan for admission of wrongdoing" (NY Times)http://www.npr.org/2013/08/08/210062388/business-news "JPMorgan announces they are subject of both criminal and civil investigations by the Justice Department" (NPR)
A fine, upstanding financial institution. AMR retains nothing but the best for the safekeeping of employee money.
Some recent J.P. Morgan headlines...
http://dealbook.nyti...al-stage/?_r=0f "SEC said to Press JPMorgan for admission of wrongdoing" (NY Times)http://www.npr.org/2013/08/08/210062388/business-news "JPMorgan announces they are subject of both criminal and civil investigations by the Justice Department" (NPR)
A fine, upstanding financial institution. AMR retains nothing but the best for the safekeeping of employee money.
xUT
Veteran
IIRC,
Our 'equity' was put into our 401K.
Don't think we had any other option, but I could be wrong.
B) xUT
Thomas Paine
Veteran
- Sep 4, 2003
- 583
- 569
I think that both the company and the TWU want you to get the money now in hopes that the temporary economic relief it could bring would help quell some of the discontent with both the union and the company.
Attempted to follow the written instructions for "certifying" my equity account so that I would not have to pay the 28% capital gains tax. The system does not work as stated in the letter. It said that at a certain point, a "certification pop-up window" would appear. It didn't. What a surprise! (not)
AANOTOK
Veteran
- Oct 10, 2009
- 4,627
- 2,395
bob@las-AA
Veteran
For those who received stock options back in the day, you signed a w9 and it is still on file. No need to refill it out again, except for a change of address.
.
Then why didn't the company's 3 pages of explanation and instructions say that? As usual, they left out a piece of information that would be helpful to a large number of people--starting with all pilots, f/as, and mechanics. I think the rampers also got options in the 2003 screwing over, didn't they?
