Category Archives: Veterans

Ask TaxMama Issue 664 – Honoring Veterans Weekend

Dear Family, In honor of Veterans’ Day this weekend, in IRS News  we are reminded that time is running out to get a substantial tax credit for hiring a veteran this year. The special, expanded tax credit will end on December 31st. So start interviewing now. Another special opportunity is open until December 31st. In […]

Employers Hiring Veterans by Year’s End May Get Expanded Tax Credit

Employers planning to claim an expanded tax credit for hiring certain veterans should act soon, according to the IRS. Many businesses may qualify to receive thousands of dollars through the Work Opportunity Tax Credit, but only if the veteran begins work before the new year. Here are six key facts about the WOTC as expanded […]

IRS Releases Guidance on How to Claim Expanded Veterans Tax Credit

WASHINGTON — The IRS today released the guidance and forms that employers can use to claim the newly-expanded tax credit for hiring veterans. The IRS also announced that employers will have more time to file the required certification form for employees hired on or after November 22, 2011, and before May 22, 2012. The VOW […]

IRS to Hold Special Open House for Veterans and Persons with Disabilities

Offices in All 50 States Will be Open Saturday, Sept. 25 to Provide Tax Assistance  IR-2010-97, Sept. 14, 2010  WASHINGTON — The Internal Revenue Service will host a special nationwide open house on Saturday, Sept. 25 to help taxpayers –– especially veterans and people with disabilities –– solve tax problems and respond to IRS notices. […]

What was Withheld

Today TaxMama hears from a Vet in Virginia, who is perplexed. “In Sept 2000, I received a severance pay from the military. For Veterans Administration purposes, I needed to know if other taxes such as Medicare, FICA and state or any other taxes may have been deducted from this money. Looking at my 2000 tax […]

Certain Payments to Disabled Veterans Ruled Tax-Free

Some May Be Due Refunds IR-2007-198 Courtesy of the Internal Revenue Service WASHINGTON — Payments under the Department of Veterans Affairs (VA) Compensated Work Therapy (CWT) program are no longer taxable and disabled veterans who paid tax on these benefits in the past three years can now claim refunds, the Internal Revenue Service said today. […]

Military Tax Relief Bill

Courtesy of NAEA Finance Members Introduce Military Tax Relief Bill Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Chuck Grassley (R-IA) this week introduced legislation that would grant significant tax breaks to members of the military, veterans, and their families. S. 1593, the Defenders of Freedom Tax Relief Act of 2007, would: Make […]

A Message of Love From a WAC – 60 Minutes Veteran Dedication

From Joyce Ragels , EA in Arizona An old friend is the current President of the Women’s Army Corps Veterans Association (WACVA). She just notified me of a special dedication show this weekend. In honor of veterans and their families, 60 MINUTES will be devoting its entire Memorial Day weekend broadcast to the 1st Battalion […]

Wasted Credit

Today TaxMama hears from Eddie in Tampa, Florida, who has this tale of woe. “For the first half of 2005, I was living off of my unemployment benefits, and then a VA stipend, which wasn’t taxable. From late May until end of August, I had work-study. From August until the present, I have lived entirely […]