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QUESTION DETAIL
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I received social security income last year. I just received a letter stating that they overpaid me by $ 10,000 and I have to repay the social security administration. They've decided that they are no going to not send me another SSA check until April of 2013 as a form of repayment. Should I amend my return?
ANSWER
Expert Mark Anderson's Answer:
No. You are cash basis taxpayer and received the money last year. The amount you report this year will just go down. I would find out why they overpaid you to see if you can appeal the decision. I hope this answers your question. Thank you.
