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Date: September 7, 2012
Subject: Amended Taxes for ... Disabled Veterans



This is
G&G Associates Tax & Financial Consulting
e-Newsletter

Amended Taxes for Service Connected Disabled Veterans


Hotep (Peace & Blessings) G&G Readers,

If you are a member or former member of the uniformed services of the United States (as defined in 37 U.S.C. 101(3)) who has made an election under Subchapter I of Chapter 73 of Title 10 of the U.S. Code (also referred to in this section as the Retired Serviceman's Family Protection Plan (10 U.S.C.1431)) to receive a reduced amount of retired or retainer pay, gross income shall include the amount of any reduction made in his retired or retainer pay then you may be able to take advantage of this tax deduction. The Regulation of the tax code I’m referencing is 26 Code of Federal Regulation (CFR) Section 1.122-1 and Public Law 95-749 § 301.


Ok… so what does all this mean? Let me break it down to you in pilot terms or better yet give it to you from the 20,000 ft. view. If you retired from the military with 20 years or greater time in service ”AND” you are a disabled veteran rated 90 percent or less and/or had a disability rating change since getting out of the service. Then you possibly may be eligible to use this regulation to amend your taxes with the IRS and get back a sizeable refund. This tax break would apply to your Federal and State tax returns.

Now, this rule has been in place for years but if you don’t claim what’s rightfully yours, then sometimes what you don’t know can actually hurt you or at least your pockets.

So Far ... G&G Associates has helped disabled veterans retrieve over $400,000 in tax refunds for this mostly unknown regulation. But, it's only available to those who claim what's rightfully theirs.

Unfortunately, the IRS only lets you go back 3 years to amend your taxes. So, it’s possible that if you keep delaying to make your claim you could possibly miss out on obtaining a refund for your 2009 taxes if you retired prior to then and are eligible to utilize the deduction.

If you'd like to have your taxes amended (Federal and State) and possibly receive a refund, please get in contact with me ASAP and I’ll tell you what I need to see if you are eligible to take advantage of this deduction.

Click on the link below or visit our website to review 26 CFR 1-122.1 and Public Law 95-749 § 301 so you can hopefully gain a better understanding of this benefit and see what information is needed to determine your eligibility.

http://db.tt/cYZ43vzK

Please pass this information along to other service connected disabled veterans so that they can be made aware of this great tax benefit.

*** Recommendations available upon request.

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If you need a one-on-one consultation to evaluate your financial situation, contact me to setup an appointment and get 2011 started off on a good note.

As always…feel free to pass this info on to anyone who may be interested in increasing their financial IQ.

Thanks for reading,

Ankh Uja Snb (Life, Health, Strength),

Asar Maa Ra Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-3757 office
866-361-3872 toll free fax
www.gngassociates.net

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*** [Price Guarantee does not apply to individuals, corporations or partnerships filing refunds pertaining to Revenue Ruling 2009-20/2009-09, ‘Ponzi Schemes’ or VA Amendment CFR 26 § 1.122-1 and Public Law 95-749 § 301 ]


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LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

 

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