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Virginia Peninsula Chapter MOAA

Virginia Peninsula Chapter MOAA
Virginia Peninsula Chapter MOAA
 
AXE Widows Tax

VICTORY!!!!

In what has to be THE most significant achievement for MOAA since Congress enacted TRICARE-FOR-LIFE, the FY 2020 National Defense Authorization Act (NDAA) signed by President Donald Trump on 20 Dec includes ELIMINATION OF THE HIDEOUS WIDOWS TAX!!!!!   Military widows, supporters celebrate after the Senate NDAA Vote.

The elimination will begin in 2021 and will be "phased-in" over a 3-year period with full elimination starting on January 1, 2023. The elimination will not be extended retroactively. Another feature of the repeal is that the option for an eligible surviving spouse to establish an annuity in the name of a dependent child will no longer be available effective January 1, 2023. Those spouses who elected to transfer their annuity to a child (or children) will have their eligibility for the benefit restored on December 31, 2022. The negative impact of 2017 tax legislation created yet another challenge for surviving widows who chose this action dramatically increased the rate those benefits were taxed at and remains to be fixed until the new legislation takes effect. This announcement is truly a massive victory for the "surviving spouses" who have suffered the loss of a deserving annuity for the last 40 years and for ALL MOAA members who supported the MOAA efforts over the years to get the egregious "tax" repealed. 

 

Virginia Peninsula Chapter MOAA

Virginia Peninsula Chapter MOAA
Virginia Peninsula Chapter MOAA
Virginia Peninsula Chapter MOAA

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