The refund phase of the Medical Resident FICA Refund Claims process for the North Shore-LIJ Health System, Inc. and its affiliates (the “System”) is about to begin. Refund checks will start to be distributed in January 2013 for the IRS refunds received to date, for the employees who submitted timely consent forms.
Periods Honored and Refunded
Please refer to the chart below for all claim years that were refunded. There are no other periods with claims pending. Refunds for claims approved but not yet received from the IRS are also noted in the chart below as well as the years that are approved and still pending refunds from the IRS.
For eligible employees, the refund will include the employee’s share of the FICA taxes with interest, as refunded by the IRS to date. Refund checks will be mailed directly by Gilardi & Co., LLC and will include the following:
- Cover Letter - explaining the claim amount and interest received from the claim
- Refund Check
- Form W-2c
As refund checks continue to be received by the System from the IRS, the website will be updated.
Interest the IRS is paying on these refunded taxes is taxable in the year received, whether or not you receive a 1099-INT from the System. If the interest you receive totals $600 or more, the System will file Form 1099-INT, Interest Income, with the IRS and provide a copy to you in January 2014.
Please consult a tax advisor if you should have any questions concerning the tax implications these refunds may have.
Frequently Asked Questions with Answers
- I have not received my check yet, what should I do?
Please check the website periodically for updates. Checks will start being mailed in January 2013. If you filed a timely consent form and have not received any correspondence by March 1, 2013 please contact Gilardi and Co at (866) 286-2606 or email [email protected].
- I have changed my address, who can I contact?
Please contact Gilardi and Co at (866) 286-2606 or e-mail [email protected] to update your address.
- I seem to be missing some years, who can I contact?
Please check the chart on the website to see the years determined and refunded by the IRS.
- I think I am entitled to more of a refund, what should I do?
Please check the chart on the website to see the quarters that have not been refunded by the IRS to date.
Yes, only one W-2c will be provided for each year by facility.
- Do I have to pay taxes on my refund?
The refunded FICA taxes are not taxable; however, the interest portion of the refund is taxable to you and you will receive a 1099-INT for any interest you receive over the amount of $600 for the year in which you received a refund. You should consult your personal tax advisor if you have any questions on any of the interest you have received.
Please contact the IRS, the System will not be pursuing any additional claims if the consent form was not filed.
- I filed my own claim with the IRS, will the System be refunding?
If you filed the claim directly, you will be the recipient of the refund. North Shore-LIJ will not be involved with the refund.