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When my husband passed away 8 years ago I took a monthly…

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When my husband passed...

When my husband passed away 8 years ago I took a monthly lifetime payout of his pension was is administered by Fidelity. It is a small amt compared to what it would have been-$503. I had some things happen financially and now we lay have ss and that pension. These amounts r not taxable so I do not file, not since tax year 2013. I JUST noticed that Fidelity is still taking out the taxes. I guess I should have been more informed. Is it possible to recover that money and if I am correct Can I have Fidelity stop the withholding? If I am correct with my thinking process, and that could b sketchy, who should I call first. Is that money recoverable from the IRS? And good luck to me. Thank you

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

I think I said quite too much already.

Submitted: 7 months ago.Category: Tax
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11/20/2017
Tax Professional: emc011075, Tax adviser replied 7 months ago
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,864
Experience: IRS licensed Enrolled Agent and tax instructor
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Hi. My name is ***** ***** I will be happy to help you.

Withholding transmitted to the IRS can only be recovered by filing a tax return and claiming a refund. Unfortunately you can only claim a refund for the last three years.

You can stop future withholding you need to contact Fidelity and change the withholding information.

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Tax Professional: emc011075, Tax adviser replied 7 months ago

Any questions? You can still file 2014, 2015 and 2016 to request a refund. Unfortunately priors years are outside statue of limitation.

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Customer reply replied 7 months ago
Unbelievably I never was involved in tax filings. For 46 years. Can a knowledgeable friend do it. Is it hard it should I have Liberty, etc do it.i appreciate your help
Tax Professional: emc011075, Tax adviser replied 7 months ago

If your only income was the social security and the pension it should not be too hard and if your friend have some experience with filing taxes it should not be a problem. You will need your tax forms: SSA1099s (annual social security tax form) and 1099Rs (Fidelity retirement distributions tax forms). If you go to Liberty or HRblock it will cost you at least $100 per year to do it.

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Tax Professional: emc011075, Tax adviser replied 7 months ago

Is there anything else I can help you with today?

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