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Questions & Answers
Is a QDRO Distribution subject to a Federal/state Treasury Offset?
I am receiving monies from a qdro settlement in a divorce.
Is that money subject to be withheld to me because of a federal/state tax offset on my refunds at the end of the year. I know I have to pay a 20% tax.
One has nothing to do with the other.
They will withhold money towards your taxes. Either it's enough to cover your tax bill (leaving a refund) or it's not (then you owe). You won't know until you file. If there is a refund, THEN the offset rules kick in.
Chances are, you will owe money.
What is a QDRO and how do I file it?
Can anyone explain what a QDRO is? I was told to file one after my divorce, something to do with the portion of my X's pension that I was awarded.
The pension was awarded to me in my divorce. I suppose I need to hire another lawyer to file this QDRO? What exactly will happen when I file this?
It stands for qualified domestic relations orders, and by following the Department of Labor link below, you'll find answers to all your questions.
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