IRS MESSAGE

 4-10-13 HEY VA! HAVE YOU HEARD?

Disabled Veterans may be eligible to claim a federal tax refund based on: an increase in the Veteran's percentage of disability from the Veteran's Administration (which may include a retroactive determination) or the combat-disabled Veteran applying for, and being granted, Combat-Related Special Compensation, after an award for Concurrent Retirement and Disability. To do so, the disabled Veteran will need to file an amended return, Form 1040X, to correct a previously filed Form 1040, 1040A or 1040EZ. An amended return cannot be e-filed. It must be filed as a paper return. Disabled Veterans should include all documents from VA and any information received from Defense Finance and Accounting Services explaining proper tax treatment for the current year. Note: It is only in the year of the VA reassessment of disability percentage (including any impacted retroactive year), or the year that the CRSC is initially granted or adjusted, that the Veteran may need to file amended returns. If needed, Veterans should seek assistance from a competent tax professional before filing amended returns based on a disability determination. Refund claims based on an incorrect interpretation of the tax law could subject the Veteran to interest and/or penalty charges. For detailed information, visit http://www.irs.gov/Individuals/Military/Special-Tax-Considerations-for-Veterans.