Join the 9 million people who found a smarter way to get Expert help

Recent VA Disability Pension questions

In October 2010, my former employer, Dept. of Veteran Affairs,

In October 2010, my former employer, Dept. of Veteran Affairs, Office of Personnel Management notified me that due to backlog in disability retirement pensions, they overpaid me $52,000. Since then I pay $227.00 towards the overpayment. As a result of their over payment AND overpayment of SSI both left me owing $3900.00 to the IRS .In 2011 my former employer again did not withhold taxes. On the 1099 for taxable amount it always read UNKNOWN as it again does for tax year 2012. Every year since I've become disabled and unable to work I've been delinquent with taxes due to the backlog with the feds. I claim no exemptions through the year, auto deduct 15% taxes from my SSI . I'm paying @ 25% in federal taxes. If I already paid the taxes on the $52,000.00 in tax year 2010 can I deduct the amount I pay back each month (i.e., $227.00 x 24) for tax years 2011 and 2012?If yes, can I do both on my 2012 tax return or will I need an amended return for tax year 2011?

Read more

Arthur Rubin

Doctoral Degree

1,744 satisfied customers
Hello, I am trying to help my brother who lives in Oregon

Hello,I am trying to help my brother who lives in Oregon file is taxes or see if he has any possible reund. I am using Turbo Tax. He is 53, divorced and only supports himself. He received a U.S. Veterans Pension of $1360 per month. He sid he did not get a statement of income from the Vets so I'm not sure how to report his income. Please advise.

Read more

Megan C

Master's Degree

29,966 satisfied customers
I am working on an Offer In Compromise. My only assets are

I am working on an Offer In Compromise. My only assets are Cash $100; Travel trailer (my residence)$7,000; 94 ford F-250 $2200; Arctic Cat ATV $3,000; My only debt is to Veterans Admin $2800 @ #380/Mo; IRS $23,997 @ $578 per month; and student loans @ 173 per month. All payments are levys against my pension or soc sec. My income is soc sec of $1,117/ mo; Pension of $1521/mo of which I receive $457 after levies; and VA dis 0f $1228.Do I qualify for hardship? Must VA disabiltiy be included in income for OIC? Can I have the $578 reduced?

Read more

wm030303

Partner

Bachelor's Degree

80 satisfied customers
Myself and a co-owner of a house and 2 acres of property in

Myself and a co-owner of a house and 2 acres of property in West Virginia are preparing to sell the property the first part of next year (2011). The property was purchased in June 2007 for $65,000. A $40,000 mortgage remains. We expect to sell the property for $75,000. After paying the realtor we expect to receive $70,000 minus the mortgage, netting around $30,000 which we will split. The question concerns capital gains. Are the capital gains paid on the $30,000 or on the $10,000 profit. In my present situation, my current income is $985 per month on a 70% VA disability pension which is non-taxable. Any money extra that I would earn is deducted from the VA payment. I am on the deed, but not on the loan. Do you think that it would be better to switch over and collect social security (65 yrs. old) at about $865 per month and drop the VA pension. It seems to me that my only tax liability initally would only be what ever amout that I make on the house.

Read more

MequonCPA

CPA Firm Owner

Master's Degree

1,732 satisfied customers
I WORKED FOR VA. 1975-1998 WHEN I RETIRED WITH DISABLITY .

I WORKED FOR VA. 1975-1998 WHEN I RETIRED WITH DISABLITY . I STILL PAY TAXES ON MY RETERMENT. I AM NOW 58 WHEN IS EVER DO I STOP PAYING TAXES?. I HAVE NOT PAID INTO SC OR JUST A LITTLE BEFORE I WORKED AS A CIVIL SERVANT COULD I NOW BE REGULAR RETIRMENT CAUSE OF MY AGE? WOULD IT BE MORE MONEY AND HOW WOULD I DO IT?

Read more

Marvin,EA

Enrolled Agent

Bachelor's Degree

968 satisfied customers
hi. i am a 60 year old in full time employment. i have, within

hi. i am a 60 year old in full time employment. i have, within weeks a frozen pension and a army pension paying out a cash lump sum. what is the max i can draw tax free, thanks.

Read more

Merlo

Tax Consultant

558 satisfied customers
Eva, I meant to rate you at 5 stars, but the stars would not

Eva, I meant to rate you at 5 stars, but the stars would not take it. It may have accidently onlydid 2 stars. please reply & I will re mark the 5 stars.Thank you,Fred

Read more

emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,202 satisfied customers
The State of Texas has frozen a bank account of mine and

The State of Texas has frozen a bank account of mine and removes some of the money from the account. I was, but not am a citizen of the State of Texas and I never received any notice from the state. Is it legal for the State of Texas to take such action and my that action be reversed?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: I have not lived in Texas for over 2 years. I now live in Tennessee. Does Texas still have any jurisdiction? And, I have not conducted business in Texas for years, and own no taxes as far as I know.

Read more

Mark Taylor

Certified Public Accountant

Masters

1,236 satisfied customers
Wrongful death suit for my dad but didnt settle until after

wrongful death suit for my dad but didnt settle until after his death. it was a personal injury lawsuit . settle d in dec. 2015 but father died in 1012 . do i have to declare it 110,000 and pay taxes . i read if its personal injury it is not taxed. thanksJA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: no

Read more

Mark Taylor

Certified Public Accountant

Masters

1,236 satisfied customers
View more tax questions
In The News