After a bit of searching, I found a Wall Street Journal article from 2012, “MetLife Settles Unclaimed Life-Benefit Probe”, and a follow-up article the same year “Michigan Joins Metlife Settlement Regarding Unclaimed Life Insurance Benefits”. Apparently, MetLife was involved in a class action suit in 2012 regarding their practice of closing life insurance ...


He was told he will not receive any tax documentation for this settlement. This also means that the IRS will not receive any tax documentation for this settlement. Forms documenting taxable income, such as W-2 and 1099, are sent in duplicate (effectively) to the taxpayer and the IRS, and this is the primary way the IRS knows about income. The IRS does not ...


or would it be advisable to use a pen-eraser? Never use a pen eraser on a check. That's a big fat red flag for fraud.


If you are able to visit your bank in person, it may be best to ask the bank teller for their advice. Likely they will allow you to endorse and deposit the check, but it doesn't hurt to ask first.


Yes, damages received in a lawsuit settlement or award are taxable except if (or to the extent) they compensate for physical injury or sickness (and are not punitive), or for being a crime victim (IRC104). Like all taxable income it doesn't matter if you receive a 1099-series form or other form like W-2, taxability depends only on the facts of what you ...


The deadline for submitting a claim was September 4th, 2016 - therefore you are no longer eligible. That being said, you probably did not miss much. According to the settlement notice you can expect to be paid about 14 cents per share, on claims exceeding $10 (below $10 you don't get paid). Read the settlement notice for more info.


No. You shorted the stock so you are not a shareholder. If you covered your short, again you are not a shareholder as you statement of account must show. You cannot participate in the net settlement fund.


Well this is not the best situation. Sorry to your friend. First off ROTHs are out, you need earned income. Secondly, I don't think the focus should be on retirement planning until there is again an earned income. Thirdly, this person is just in a bad spot. Lets assume that you can find some really good mutual funds, that consistently return 10% per ...

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