Military Archives - Page 3 of 3

Veterans Owed Refunds for Overpayments Attributable to Disability Severance Payments should File Amended Returns to Claim Tax Refunds

The following article was published by the IRS. The IRS is advising certain veterans who received disability severance payments after January 17, 1991, and included that payment as income that they should file Form 1040X, Amended U.S. Individual Income Tax Return, to claim a credit or refund of the overpayment attributable to the disability severance payment. [...]

cozbycpa2018-08-29T17:12:58-04:00August 29th, 2018|Categories: IRS, Military, Personal Taxes, Tax Refunds, Tax Tips, Taxes|Tags: Combat-Injured Veterans Tax Fairness Act, Cozby & Company, disability severance payments for veterans, Heather Cozby Plymouth CPA, overpayments attributable to disability severance payments|

Tips for Teenage Taxpayers Starting a Summer Job

Now that school’s out, many students will be starting summer jobs…from working at a summer camp to being an office intern. The IRS reminds students that not all the money they earn may make it to their pocket. That’s because employers must withhold taxes from the employee’s paycheck. Here are a few things these workers need [...]

cozbycpa2018-06-06T11:42:28-04:00June 6th, 2018|Categories: IRS, Military, Payroll, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed, Tax Tips, Taxes|Tags: Cozby & Company, income taxes for teenagers, Plymouth MA, Plymouth MA accountant, Reserve Officers' Training Corps pay, summer jobs for kids, tax preparer Plymouth MA|

Special tax benefits for armed forces

Members of the military and their families are often eligible for certain tax breaks. For example, members of the armed forces don’t have to pay taxes on some types of income. Special rules could also lower the tax they owe or give them more time to file and pay taxes. No matter what time of the [...]

cozbycpa2018-05-30T10:16:53-04:00May 30th, 2018|Categories: EITC, IRS, Military, Personal Taxes, Tax Credits, Tax Relief, Tax Tips, Taxes|Tags: combat pay exclusion, Cozby & Company, earned income tax credit for military, military deadline extensions, Plymouth MA accountant, Plymouth MA tax preparer, ROTC allowances, special tax benefits for armed forces|