thedrifter
06-19-08, 08:09 AM
Move extends credit to foreign military spouses
WASHINGTON — President Bush on Tuesday signed the Heroes Earnings Assistance and Relief Tax Act into law, authorizing about $2 billion in tax breaks for troops and their families.
Among those is a provision to allow troops with foreign spouses to receive the 2007 economic stimulus credit after lawmakers discovered a loophole in the original plan which prevented them from claiming the money.
The credit, approved by Congress earlier this year as a way to spur consumer spending, gave a $300 to $600 payout per taxpayer for households, plus another $300 per dependent child.
But the legislation required that all spouses and dependents listed on a tax return have Social Security numbers for the household to be eligible.
For troops’ foreign spouses who had only individual taxpayer identification numbers, that meant no stimulus checks.
The bill states that the change to stimulus package payouts affects only current military members, and gives no mention of retirees or Department of Defense civilian employees.
IRS officials said they would announce how troops can receive the payouts in coming days.
Ellie
WASHINGTON — President Bush on Tuesday signed the Heroes Earnings Assistance and Relief Tax Act into law, authorizing about $2 billion in tax breaks for troops and their families.
Among those is a provision to allow troops with foreign spouses to receive the 2007 economic stimulus credit after lawmakers discovered a loophole in the original plan which prevented them from claiming the money.
The credit, approved by Congress earlier this year as a way to spur consumer spending, gave a $300 to $600 payout per taxpayer for households, plus another $300 per dependent child.
But the legislation required that all spouses and dependents listed on a tax return have Social Security numbers for the household to be eligible.
For troops’ foreign spouses who had only individual taxpayer identification numbers, that meant no stimulus checks.
The bill states that the change to stimulus package payouts affects only current military members, and gives no mention of retirees or Department of Defense civilian employees.
IRS officials said they would announce how troops can receive the payouts in coming days.
Ellie