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Do I need to file taxes now on a settlement received in 2018? Estimate taxes? Do I need to amend 2017?
I filed my taxes and received my refund for 2017, then unexpectedly received a settlement in a discrimination complaint. The employer deducted taxes for the lost wages portion and sent a separate check for pain and suffering. I have not received a 1099 & the payment was received in Feb. 2018. Do I need to pay taxes on this portion? If so do I need to do estimated taxes now? Do I need to amend my 2017 return?
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‎June 1, 2019
10:49 AM