I received an updated retired pay statement today and was surprised to see that my federal taxes will be going up as of the 1st of March. Has anyone else noticed this? With no COLA the past two years I have no clue as to why the increase.
After reading your post I looked at DFAS on-line as we are on the road, found the same thing you mentioned, quite a difference in the amount to be deducted eff. March 1, 2011. The explanation at the bottom of the statement was vague about tax law and tax table changes so I did further research. What the change is from was the MAKING WORK PAY CREDIT is now gone so more will be deducted for FITW.
My husband worked as a civilian, and was in the Army Reserve, we were no longer on a fix income, but a decreasing income. My husband will also have a large chunk taken out of S.S. because he goes on Medicare. Way to go Big Brother.and Uncle Sam.
You can thank Nancy P and Obama for Mar 1 FITW increase. Your paying in advance for the Obama Health Plan which may become effective starting in 2012 to 2014..
I hope that the Republicans can stop this Tax. But, taxing military now, will we lose our Military Health plans in effect now and pick up the worthless Obama plan....
I am sure we may see COLA extended another year, saving the Gov $91 billion over a 10 year period.. Do you think you will get better Obama Health care from this Government savings if you lose Military Hrealth Care....
