Published • loading... • Updated
She Took the Pension as a Lump Sum and Had the Check Cut in Her Name. The 20% Withheld Was the Small Problem. Medicare's Bill Was the Big One
A personal check from a pension lump sum can trigger 20% withholding and raise Medicare premiums two years later, advisors said.
Summary by 24/7 Wall St.
2 Articles
2 Articles
She Took the Pension as a Lump Sum and Had the Check Cut in Her Name. The 20% Withheld Was the Small Problem. Medicare's Bill Was the Big One
She deposited the pension check, filed her taxes, and considered the matter settled. Two years later, a bill arrived that had nothing to do with the IRS and everything to do with a single line on the payee field.
·Lakewood, United States
Read Full Article
She Took the Pension as a Lump Sum and Had the Check Cut in Her Name. The 20% Withheld Was the Small Problem. Medicare’s Bill Was the Big One
The post She Took the Pension as a Lump Sum and Had the Check Cut in Her Name. The 20% Withheld Was the Small Problem. Medicare’s Bill Was the Big One appeared first on 24/7 Wall St.. A single retiree, 66, left her employer years earlier with a deferred pension waiting in the wings. In 2024 she…
Coverage Details
Total News Sources2
Leaning Left0Leaning Right0Center1Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
Factuality
To view factuality data please Upgrade to Premium
