A lot of veterans end up having a tax issue for various reasons: cancellation of debt, cashing out retirement accounts, being self-employed, and a host of other reasons.
If you are a veteran, collecting a retirement or disability check will be calculated often as more available income you have to pay off the IRS. However, if you are only collecting disability or retirement, often that is low enough that you can get a settlement in the form of an Offer In Compromise.
These are the options you have:
The IRS reserves the right to file a lien while an Offer In Compromise is pending, although most of the time they do not.
If you are collecting veterans’ disability benefits and nothing else, most of the time you will qualify for an Offer In Compromise. You can see our Offer In Compromise Guide here if you wish to self prepare it.
If you need help with your tax debt, call us for a free, fill out our contact form or call us at (888) 515-4829 and a tax attorney will call you back!
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View Comments
I am a veteran And I do need some tax help, I looked at your settlement guide but wondered, does the IRS count veterans disability payments as income?
Hi Andrew,
Yes for purposes of the IRS Offer In Compromise program they do consider this as income. Even normally non taxable income is considered as income for settlement purposes. If you have any other questions just reply and thanks for posting!
Is there a special type of settlement for veterans? or do we file the same settlement as regular taxpayers?
Good article, though one question. Do veterans get another type of settlement or its just the same like anyone else
Valuable analysis , I learned a lot from the facts , Does someone know where my business can locate a template IRS 433-A copy to fill out ?
http://www.taxresolutionprofessionals.com/Form-433-A-OIC-2017.pdf