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Financial Information for Senior Military Officers

The Strickland Decision: Part III

The Strickland Decision: Part III

I've written about the Strickland Decision here before. If you missed those articles, you can read them here and here. But, what I haven't talked about is how the IRS statute of limitations rules affect your ability to claim refunds on the taxes that you paid that shouldn't have been paid under Strickland. That's the objective for today. Let's start with a review though...

The Strickland Decision

The Strickland Decision and Internal Revenue Ruling 78-161 give a retired service member the ability/right to adjust military retirement income reported on Form 1099-R. Significant tax benefits will only apply to those who are rated less than 50% disabled or those who receive Combat Related Special Compensation (CRSC). For those rated 50% or more disabled and receiving Concurrent Retirement and Disability Payments (CRDP) the tax benefit is minimal or non-existent due to the phase in of CRDP over the last 7 years.

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