US Air pilots, the PA.Dept. of Revenue is after me claiming the payments we received for 3 years is taxable income not retirement. does anyone have a "summery plan description for the non qualified retirement plan for the pilots of US Air. I am trying to stop this in the bud, if they get me they will be after all of us. If you have this info please advise and NO I don't remember where I got it, thanks.
Pennsylvania Dept. of REVENUE
- Thread starter mikey60
- Start date
I know there are some states that consider retirement income to be taxable income. Pennsylvania may be one of those. Thank goodness in Texas we have no state income tax period. I discovered the hard way that the Feds consider Social Security and private company retirement annuities to be taxable. I owe them over $3000 this year for last year because I didn't have any Federal Income tax taken out of 3 retirement annuities that I have..
delldude
Veteran
They have a cute little line in the PA-40 booklet that says something like 'if of retirement age'. but don't really describe what retirement age is. Pa bases their case on whatever your 1040 report was. Check the box codes on your 1099-R....I think if its a 7 you're ok.
- Thread Starter
- #4
I had to fold and pay the pa dept of revenue 960.00 it was cheaper than a lawyer and my accountants time. When I received a “Davy dollars” w-2 the taxable income was accidentally checked and that started this. They knew that it non taxable but they also knew they had me over a barrel, face down, so I paid. Pennsylvania is in such bad shape financially along with the likes of ILL. and NJ that they are digging anywhere for money. Their contention was besides the incorrectly checked box that the “ Davy Dollars” are taxable income. I didn’t mention that there are other people that received this money. I told them I was an exception, but I don’t trust them.
