Monday, June 23, 2008

How to Recoup Taxes Paid on Disability Severance pay From the Armed Forces

How to Recoup Taxes Paid on Disability
Severance pay From the Armed Forces

EAST CANTON, Ohio; 20 June 2008 -- IRS publications 17 (Your Federal Income
Tax) & 525 (Taxable & Non-taxable Income, page 17) both state that "if you
receive a lump-sum disability severance payment and are later awarded VA
disability benefits, exclude 100% of the severance benefit from your
income." But neither publication says how.

"Many medically discharged vets, including some good friends of mine, don't
know they are entitled to get the taxes back if they get a VA rating," says
Dorothy, the author of this extremely important USVI veteran document.

In this informative USVI document, composed by a discharged veteran of
recent years, discharged veterans awarded VA disability benefits will learn
how to recoup money paid as taxes on disability severance income.

Read it on USVI:

U.S. Veteran Information (non-governmental) USVI - Serving Veterans since
1997 P.O. Box 30076 East Canton, Ohio 44730 USA
Al Colombo, the U.S. Veteran Information web site, and the individuals who
actively research and provide information are not affiliated with the
Veterans Affairs, Federal Government, or any state or local government
agency. Neither are these individuals or the U.S. Veteran Information
(non-governmental) organization qualified to render legal advice of any
kind. Opinions or information offered should be verified with the VA or
appropriate agency/department at before taking action.

I am 52 years old and have never heard of this before, this is good info for recently disabled veterans that are medically discharged from the military, all the dollars add up

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