Any "Latest & Greatest" about Delta?
02-18-2011, 08:09 AM
The Brown Dot +1
Joined APC: Jun 2009
Position: 777B
Posts: 7,775
Originally Posted by Nosmo King
If it's an LOA/MOU then it cannot be unilaterally terminated. I think that is the why they leave it as a policy for the reasons stated in the bulletin. I'll see if I can dig up the original bulletin at fNW. IIRC the commentary wasn't quite as loaded as the current version.
Still waiting for someone to tell me where this is written in the PWA, I'm having a hell of a time finding it...
Still waiting for someone to tell me where this is written in the PWA, I'm having a hell of a time finding it...
disregard........
02-18-2011, 08:21 AM
Works Every Weekend
Joined APC: Dec 2007
Position: 737 ATL
Posts: 3,506
Originally Posted by scambo1
Check;
As I read it, you have to have paid the tax on those earnings in the payout year and now have to go back and amend that tax return to get the benefit. Is that how you read it?
As I read it, you have to have paid the tax on those earnings in the payout year and now have to go back and amend that tax return to get the benefit. Is that how you read it?
You will essentially be amending your return for they year you got the payments.
The mechanics of that is yet to be determined.
I've never filed an amended return. I have no idea how it will work.
Hopefully they will just create a special form for us and we won't have to go back and redo the whole tax return. Yikes!
I can't even remember what year we got that notes and claims money. 2007 maybe?
02-18-2011, 08:36 AM
Banned
Joined APC: Jul 2006
Position: Space Shuttle PIC
Posts: 2,007
Originally Posted by Check Essential
Chuck-
Its kinda complex, but here's the short version--
The Delta, Northwest, United and USAir pilots all received certain distributions of cash following bankruptcy. In some cases the distribution was substantial.
That money was all taxed as ordinary income.
The gov't. did make a 1 time exemption to the income limits for contributions to Roth IRAs but it still was counted as ordinary income.
This new law will allow the funds to be treated as if they were roll-overs to regular IRA accounts which means there would be no income tax due.
That means those of us who received those distributions can now convert them to regular IRAs and get a BIG tax refund.
Its only fair. We lost our entire pension in those bankruptcies.
Its kinda complex, but here's the short version--
The Delta, Northwest, United and USAir pilots all received certain distributions of cash following bankruptcy. In some cases the distribution was substantial.
That money was all taxed as ordinary income.
The gov't. did make a 1 time exemption to the income limits for contributions to Roth IRAs but it still was counted as ordinary income.
This new law will allow the funds to be treated as if they were roll-overs to regular IRA accounts which means there would be no income tax due.
That means those of us who received those distributions can now convert them to regular IRAs and get a BIG tax refund.
Its only fair. We lost our entire pension in those bankruptcies.
How does someone figure out how to get that money? Will there be a step by step process?
02-18-2011, 08:54 AM
Super Moderator
Joined APC: Dec 2007
Position: DAL 330
Posts: 6,870
Devils Advocate Post
Originally Posted by iaflyer
For those of you betting how long it would take the FAs to get the same commuting policy, how many people had "0 days"?
Yesterday, they got the same exact policy as we did.
Yesterday, they got the same exact policy as we did.
Guys,
I agree that we shouldn't have to worry about the FAs or any other employee group when negotiating, but I don't see an issue here for two reasons:
First - its policy and not contractual. I sure hope we didn't burn any bargaining leverage on a policy that can be unilaterally terminated.
Second - If it helps the company run smoother by getting employees into position wouldn't it be better to include all employee groups that commute?
Scoop
02-18-2011, 08:56 AM
Works Every Weekend
Joined APC: Dec 2007
Position: 737 ATL
Posts: 3,506
Originally Posted by Bill Lumberg
How does someone figure out how to get that money? Will there be a step by step process?
Getting it in the Senate bill was the big hurdle though.
I expect guidance from the govt and the union as soon as it becomes final.
02-18-2011, 09:53 AM
Inventory survival kit ..
Joined APC: Jul 2008
Position: Seeking no jacket required rotations
Posts: 1,069
Originally Posted by Scoop
Guys,
I agree that we shouldn't have to worry about the FAs or any other employee group when negotiating, but I don't see an issue here for two reasons:
First - its policy and not contractual. I sure hope we didn't burn any bargaining leverage on a policy that can be unilaterally terminated.
Second - If it helps the company run smoother by getting employees into position wouldn't it be better to include all employee groups that commute?
Scoop
I agree that we shouldn't have to worry about the FAs or any other employee group when negotiating, but I don't see an issue here for two reasons:
First - its policy and not contractual. I sure hope we didn't burn any bargaining leverage on a policy that can be unilaterally terminated.
Second - If it helps the company run smoother by getting employees into position wouldn't it be better to include all employee groups that commute?
Scoop
02-18-2011, 10:30 AM
Inventory survival kit ..
Joined APC: Jul 2008
Position: Seeking no jacket required rotations
Posts: 1,069
Just skimmed the SOT recommendations. Lots of good stuff in there that fnw will recognize. Lots of good new stuff too.
So far my only word of caution is DO NOT LET PS Front End Deviation mutate into SATELLITE basing. PS on front end is a good deal. Satellite basing is NOT.
Otherwise it looks like a job well done, assuming we can write new pwa language without holes.
So far my only word of caution is DO NOT LET PS Front End Deviation mutate into SATELLITE basing. PS on front end is a good deal. Satellite basing is NOT.
Otherwise it looks like a job well done, assuming we can write new pwa language without holes.
02-18-2011, 10:37 AM
Doesn't Get Weekends Off
Joined APC: Jun 2007
Posts: 2,598
Originally Posted by Check Essential
I've never filed an amended return. I have no idea how it will work.Hopefully they will just create a special form for us and we won't have to go back and redo the whole tax return. Yikes!
I can't even remember what year we got that notes and claims money. 2007 maybe?
I can't even remember what year we got that notes and claims money. 2007 maybe?
The IRS could very well create a simpler form for the process, but I doubt they will do it because of the relatively few people who will be effected by the change. If you didn't put the claims money in an IRA when you got it, you may have to fill out an 8880 form along with the 1040X. Still a very simple process.
02-18-2011, 10:55 AM
Gets Weekends Off
Joined APC: Jun 2009
Posts: 5,113
Originally Posted by iaflyer
Sec 23, Y.
I tried cut/pasting it here, but it comes out looking all weird. It does say "It is expected that a pilot will avail himself of Section 23 Y. 2. on a rare basis." so that line isn't new. It also says, "A pilot who has demonstrated a pattern of inability to report as scheduled will be subject to progressive disciplinary action."
The new policy is nice in that 2 hours aren't required between your primary and backup flight.
I tried cut/pasting it here, but it comes out looking all weird. It does say "It is expected that a pilot will avail himself of Section 23 Y. 2. on a rare basis." so that line isn't new. It also says, "A pilot who has demonstrated a pattern of inability to report as scheduled will be subject to progressive disciplinary action."
The new policy is nice in that 2 hours aren't required between your primary and backup flight.
Which disciplinary trigger would you want to be subject to, "a few times during a pilot's career", or "a pattern"?
02-18-2011, 11:05 AM
Gets Weekends Off
Joined APC: Jun 2009
Posts: 5,113
Originally Posted by Nosmo King
If it's an LOA/MOU then it cannot be unilaterally terminated.
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