How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Lane Your Own Question

Category: Finance
Satisfied Customers: 3125
Experience:  Providing Financial & Tax advice since 1986
Type Your Finance Question Here...
Lane is online now
A new question is answered every 9 seconds

Greetings I would like to know if I qualify for sequestration Kind

Customer Question


I would like to know if I qualify for sequestration

Kind Regards

Submitted: 5 months ago.
Category: Finance
Expert:  Lane replied 5 months ago.

Lane :

Pursuant to the requirements of the Balanced Budget and Emergency Deficit Reduction Act of 1985, as amended, refund payments issued to corporations claiming refundable prior year minimum tax liability, are subject to sequestration. This means that refund payments processed on or after October 1, 2013 and on or before September 30, 2014 will be reduced by the fiscal year 2014 sequestration rate of 7.2 percent, irrespective of when the original or amended tax return was received by the Service. The sequestration reduction rate will be applied unless and until a law is enacted that cancels or otherwise impacts the sequester, at which time the sequestration reduction rate is subject to change.

A corporation that can claim an additional first-year depreciation deduction under section 168(k) can choose instead to accelerate the use of its prior year minimum tax credits, treating the accelerated credits as refundable credits. Corporations making this section 168(k)(4) election and claiming a refund of prior year minimum tax credits should complete Form 8827. These corporations will be notified that a portion of their requested refund was subject to the sequester reduction.

Corporations making the section 168(k)(4) election but not claiming a refund of prior year minimum tax credits are not subject to this reduction.

Lane :

Do you think that those date would apply? ..."refund payments processed on or after October 1, 2013 and on or before September 30, 2014 "

Customer :


Lane :


Customer :

Sorry if there was a misunderstanding but I asked How do you qualify for sequestration

Lane :

Do you mean, relative to your employment?

Lane :

Sequestration can mean a LOT of things in different venues .. are you asking about Federal Government worker furloughs?

Lane :

Also this may help:

Lane :

While on furlough, Federal employees may become eligible for unemployment benefits
under the Unemployment Compensation for Federal Employees (UCFE) program.
UCFE is paid by the states under the same terms and conditions as regular state
unemployment compensation (UC). You will need to contact the state of your last duty
station to file an UCFE claim. To qualify for benefits, you must have earned sufficient
wages during the prior 12–18 months, as determined under the state UC law. The state
will advise you of whether or not you are eligible for benefits.
Be Prepared
It is important to have certain key documents ready when you file your claim. States may
take claims over the Internet, telephone, or in-person. Follow instructions provided on
the state’s Web site. Information on where and how to file can be found on the U.S
Department of Labor Web site at
You will need to know your department or agency’s correct name and payroll address,
and, if available, the agency’s Federal Identification Code. Documents that have this
information and will help you to correctly file your UCFE claim include:
• Standard Form 8 (SF-8)
• Standard Form 50 (SF-50)
• Earnings and Leave Statement
• W-2 Form
Workers who are otherwise eligible for benefits must first serve a one-week waiting
period in most states. You will have to check with the state in which you file your claim
for specific information. Generally, this means that you will not be paid for your first
week of unemployment.

Lane :

I'm afraid you'll have to give me a little more informaton ... :)

Lane :

I still don't see you coming into the chat session, so I'll move us to the "Q&A" mode. … Maybe that will help … (We can still continue a dialogue there, just not in real-time chat, as we can here)

Lane :

AHh I see you're typing now... I'l wait

Lane :

We've been at this for 20 minutes now ... I'm wondering if JustAnswer may be having some systems problems ... If I don't see you in a few more minutes, I'll go ahead and move us to the "Q&A" mode ... Again, we can continue out covnersation there ... Sometimes moving us to "Q&A helps

Lane :

But pleas, let me know if you have any questions at all

Lane :


Customer :

Sorry for me not being completely clear with my question but I am struggling to pay my bills especially car payment I want to no if I can sequestrate myself and what the requirements is.

Expert:  Lane replied 5 months ago.

Hi Rudi,

... just checking back in HEE, as I never saw you come back into the chat.

Hopefully this will help.

I'm here

Expert:  Lane replied 5 months ago.

So sorry, got called into a meeting myself.

I'm really not sure exactly what you mean.

I'm afraid I'll have to opt out.

Maybe there will be another expert here that can help.

Expert:  Rachel-Mod replied 5 months ago.


I’m Rachel, and I’m moderator for this topic. It seems the professional has left this conversation. This happens occasionally, and it's usually because the professional thinks that someone else might be a better match for your question. I've been working hard to find a new professional to assist you right away, but sometimes finding the right professional can take a little longer than expected.

I was checking to see if you had already found your answer or if you still needing assistance from another one of the professionals?

Please let me know if you wish to continue waiting or if you would like for us to close your question.

Also remember that JustAnswer has a multitude of categories to help you with all your needs from Health, Pets, Computers, Taxes, Cars, Finance, Law, to Home Improvement, and more.

Thank you,


JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA

Meet The Experts:

  • Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany


    Satisfied Customers:

    More than 5000 online tutoring sessions.
< Last | Next >
  • Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany


    Satisfied Customers:

    More than 5000 online tutoring sessions.
  • Rakhi Vasavada's Avatar

    Rakhi Vasavada

    Financial and Legal Consultant

    Satisfied Customers:

    Graduated in law with Emphasis on Finance and have have been working in financial sector for over 8
  • Megan C's Avatar

    Megan C


    Satisfied Customers:

    Licensed CPA, CFE, CMA who teaches accounting courses at Master's Level
  • JKCPA's Avatar



    Satisfied Customers:

    Bachelors degree and CPA with Accounting experience.
  • Eric's Avatar


    Financial Manager

    Satisfied Customers:

    Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.
  • R. Klein, EA's Avatar

    R. Klein, EA


    Satisfied Customers:

    Intuit Ask a Tax Expert. QuickBooks Certified Pro Advisor (all editions)
  • Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.


    Satisfied Customers:

    NASD Licensed Rep, 1997-2001, Business Attorney