Yeah, I’m now V1 = yes so I qualify for federal employment benefits. But I can’t find anything on those benefits.
CRSC Affected by PEB Results?
- Thread starter Buck Nasty
- Start date
it's just priority for federal jobs. So if you apply for federal employment jobs you get extra points in your favor.
Ok, so similar to when you're > 30% at the VA? It's like 10 points on an application?
yes.
Reading this thread, trying to get some clarity for my situation. I got out OCT 23, my PEBLO told me the taxes taken out for my severance disability pay would be easy to recoup. I'm now seeing this may not be the case. I don't have the combat related code on my DD214 and I'm not sure how to go about filing the IRS tax form 1040-X if I don't have anything to prove my case. Can I send in statements, the combat awards mentioned in previous comments, medical records? My VSO is of no help and I don't know that a tax professional will know either.
The only thing that might make sense if is if they withdrew at a higher percentage than your actual tax bracket. Basically, you would find this out by just filing your taxes. The other possibility, is that your Peblo is just talking out his ass.
Yeah, I definitely got the feeling he was just trying to push me out the door. I took his word for a few things like this unfortunately.
The disability pay is added onto my wages on my W-2s so I will definitely be in a higher tax bracket this year. Didn't make much sense that it would be taxable income when I was taxed like 25% on it already. Not entirely sure how it will play out.
The disability pay is added onto my wages on my W-2s so I will definitely be in a higher tax bracket this year. Didn't make much sense that it would be taxable income when I was taxed like 25% on it already. Not entirely sure how it will play out.
They withhold 25% and send it to the IRS. Then depending on the amount of your severance and if there is other earned income that withholding may be more or less than your actual tax bill. If your severance amount is high and you have additional income that withholding may not be enough leaving you with additional monies due to the IRS. If the severance is your only income and if the amount isn't very high then its possible you may get a refund.
I am glad that DFAS withholds 25%. Otherwise, people could get in huge trouble with the IRS with a large debt they may not be able to pay. Then things like VA compensation get garnished which would be awful!