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View Full Version : I received SSD lump sum payment, how much taxes % will the IRS want back


DaniMani
Jan 25, 2014, 05:14 PM
I received my SSD lump sum payment after close to 3yrs waiting, now I am told I have to pay taxes on that lump sum of nearly 50K. What % do they want? The 50K is gone cause of all the money I borrowed from family and friends while waiting 3yrs to receive my SSD.

AtlantaTaxExpert
Jan 25, 2014, 09:27 PM
If the $50,000 is your ONLY income source, the tax should be about $5,062.