|
| |
9/17/03
NOTE: Our response to your tax law question appears below. If you have a
follow-up question or another general tax law question, please return to our web
site at: (http://www.irs.gov/help/page/0,,id=13162,00.html) to submit it.
Please do not use your "reply" button to respond to this message. More
helpful information is provided at the end of this message.
Your Question Was:
I m a disabled (line of duty injury) police officer from Tampa, Floida. I
have a tax exempt private pension. My question is: Where are the
tax references that qualify my pension as exempt and if the Pension Board of my
private pension, makes changes to my benefits how would it effect my tax status?
-
The Answer To Your Question Is:
Thank you for your inquiry. The reference is in the State, City County
(whatever you retired from) statutes. If your pension is computed based on
years of service it is NOT exempt. If your pension is in the nature of a workmen
compensation claim, it is not taxable. You need to ask your retirement
board which statute you retired under. They should be sending you a
Form 1099R each year which shows the gross amount and the taxable amount, if any
of this is taxable. These are the types of issues you need to discuss with
your retirement board.
IRS forms and publications may be accessed on our web site at the following
address: http://www.irs.gov/forms_pubs/index.html or ordered through our
toll-free forms line at:
800-829-3676
which is available 24 hours a day, 7 days a week, with 7-10 days delivery time.
Other useful toll-free numbers include:
800-829-1040 IRS Tax Help Line for Individuals
(NEW) 800-829-4933 Business and Specialty Tax Help Line
(NEW) 800-829-1954 Refund Hotline
We are interested in your opinion and providing the best possible service to
you. Please take a moment to answer our survey at: http://www.irs.gov/help/page/0,,id=13155,00.html
This answer is based on our understanding of the facts you presented in your
question. Omission of facts may affect the answer given.
Here's a tip for navigating the IRS web site. Use the "search" button at the
left side of the web page. Enter key words or phrases for your topic in
the entry box. It could help you find your answer immediately.
EMPLOYEE ID: 54-00434 Ms. wampler
Tel.:(800)829-1040 msg#: 1496272
**The above information was requested by Jerry Wotherspoon for LOD personnel.
|
