Military Officer - April 2008 - (Page 34) washingtonscene You’ll Get a Check Don’t Give Up $300-$1,200 I Virtually all MOAA have to process 2007 tax returns before it can determine who qualifies for a specific rebate amount. Stimulus plan includes retirees and disabled veterans. members should be eligible for a $300 to $1,200 economic stimulus rebate check. That includes those whose only income is from Social Security, VA disability, or survivor compensation. But you have to file a 2007 tax return to get it. A special version of IRS Form 1040A is available at www.irs.gov for those with only nontaxable income. A fter the Senate missed passing its version of the economic stimulus package by a single vote, congressional leaders did some last-minute horse-trading and approved a revised package of tax rebates Feb. 7. The Senate wanted to dramatically expand the House-passed package by increasing maximum eligible incomes. At the strong urging of MOAA President Vice Adm. Norb Ryan Jr., USN-Ret., and other veterans’ associations, they also supported inclusion of disabled veterans and some military widows who have no taxable income. The final package didn’t expand income eligibility limits, but did extend eligibility to disabled vets, their survivors, and certain others without taxable incomes at a reduced rebate level, as follows: I People with taxable wages, investment income, or retirement income in 2007 will receive rebates of up to $600 for individuals ($1,200 for couples). I People with only nontaxable income of at least $3,000 will receive $300 ($600 for couples). I Anyone who qualifies for a check will receive an additional $300 for each dependent child under age 17. Full payments will go only to individuals with less than $75,000 in adjusted gross income ($150,000 for couples). Rebates gradually will be reduced for those with higher incomes, and individuals making more than $87,000 ($174,000 for couples) will not get any rebate at all. The president signed the measure into law Feb. 13. But don’t expect any check until at least May, because the IRS will Four-Percent Solution Defense leaders seek defense budget “floor.” D efense Secretary Robert Gates and Chair of the Joint Chiefs Adm. Mike Mullen, USN, testified on the FY 2009 Defense budget in early February before the House and Senate Armed Services committees. The majority of their testimony and subsequent questioning focused on the magnitude of the $515 billion budget submission. Both witnesses stressed the need to establish a floor of 4 percent of GDP for the defense budget for the foreseeable future to prevent “disarming ourselves” as was done at the end of World War I, World War II, Vietnam, and the Cold War. Both committees expressed concern over the lack of any cost estimate for operations in Iraq and Afghanistan in the defense budget request. When pressed, Gates estimated the additional cost could be $170 billion, but emphasized the final number could be different. Other topics of MOAA interest addressed in the hearing included: TRICARE fees: Several committee leaders, including Chair of the House Armed Services Committee Ike Skelton (D-Mo.), attacked DoD’s proposal to increase health care fees for retirees under age 65. The proposal closely tracks the recommendations of the DoD Task Force on the Future of Military Health Care, except that it does not propose an enrollment fee for TRICARE For Life. Troop tour lengths: The witnesses reemphasized the need to return to 12- 34 MILITARY OFFICER APRIL 2008 http://www.irs.gov
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