Long term disability taxes For 2010 I became ill part way into the year. I then went on short term disability and long term disability. I received my LTD From a third party insurer that was part of my employee health benefits. However by the time I received them it was a large amt 25k+ and no taxes state/federal or soc sec were taken out for next years taxes since the payment was in January of this year 2011. How do I pay these taxes and when? Or do I pay a huge amt next year? Also since my tax refund will be large this year due to medical expenses, should i opt to defer my refund until next year?
Thanks! |