Why is retro pay taxable?
I received my 70% letter from the VA this weekend and it says they are witholding the pay pending a DFAS audit, etc. Once this is worked out I understand I will receive a retro pay for the disability...
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Retro VA compensation is NOT taxable. Retro pay from the DFAS (which is retired pay) is taxable. In most cases, the retro is VA compensation and it is not taxable. Where did you read that VA...
View ArticleRe: Why is retro pay taxable?
If I understand you correctly, the retirement pay comes from DFAS, but the disability comes from VA? Will I be able to view my disability pay LES through "My-Pay", or will it appear somewhere else?
View ArticleRe: Why is retro pay taxable?
If will be on "my pay" under changes/updates. EDIT: Your retro pay will have it's own payment statement. Your Monthly payments will be has stated by Ron below.
View ArticleRe: Why is retro pay taxable?
Re: "Will I be able to view my disability pay LES through "My-Pay", or will it appear somewhere else?"1. Your VA disability compensation is paid by the VA and it is not reflected on a pay statement...
View ArticleRe: Why is retro pay taxable?
1. In most cases, all or the majority of retro pay is VA Compensation which is not taxable by any government entity. 2. FICA is withheld from wages; not all bonuses are wages. For instance, a...
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