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tamarafrij
New Member

I do not understand what lump-sum payments mean. it asked us that we did or did not receive lump sum payments in 2017. Does that mean we paid $$ to IRS in 2017?

 
5 Replies
MichaelL1
Level 15

I do not understand what lump-sum payments mean. it asked us that we did or did not receive lump sum payments in 2017. Does that mean we paid $$ to IRS in 2017?

Lump sum payments question is related to retirement distrbutions.

The two choices generally are:

monthly checks

or a lump sum (cashing it all on). 

tamarafrij
New Member

I do not understand what lump-sum payments mean. it asked us that we did or did not receive lump sum payments in 2017. Does that mean we paid $$ to IRS in 2017?

I still have SSDI benefits.  So I am supposed to say yes I receive lump sump social security  payments, right?
MichaelL1
Level 15

I do not understand what lump-sum payments mean. it asked us that we did or did not receive lump sum payments in 2017. Does that mean we paid $$ to IRS in 2017?

do you get monthly payments?  If so, then you would answer No to lump sum, unless you were paid a lump sum for back amounts.
tamarafrij
New Member

I do not understand what lump-sum payments mean. it asked us that we did or did not receive lump sum payments in 2017. Does that mean we paid $$ to IRS in 2017?

I have another question.  We cannot afford to pay the full amount of owe to state and federal.  Can we make monthly payment installments to both?
MichaelL1
Level 15

I do not understand what lump-sum payments mean. it asked us that we did or did not receive lump sum payments in 2017. Does that mean we paid $$ to IRS in 2017?

Yes, but #1 file timely and #2 pay what you can with the returns, and then when you get a bill you can call them or hopefully pay it all off.
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