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Default New York is *my* city...

In article ,
says...

On Mon, 22 Jul 2013 14:47:01 -0400, iBoaterer
wrote:

In article ,
says...

On Mon, 22 Jul 2013 12:34:17 -0500, Califbill
wrote:

wrote:
On Sun, 21 Jul 2013 04:49:53 -0700 (PDT), True North
wrote:

Tax free??
No wonder 'merica is teetering on bankruptcy

Yup any fireman or cop who retires on disability is immune from state
or federal taxes on their pension.

BTW I am sad about my neighbor, He had a massive stroke last night and
did not wake up

RIP Les Stacho. We will miss you.

Only up to 50% is tax free. But here in California 90+% of firemen retire
on disability. Seems as if they could do the job for all 30 years, but
get.a disability rating on retirement. I thought Florida had no personal
income tax.

He was not paying ANY federal income tax.


Cite?


A legal decision that reaffirms this.
http://ericjohnltd.com/ericjohnltd/2...pension-issue/

Oh, man.....

"The IRS argued that the benefits paid after turning age 50 were taxable
retirement income. It cited Tateosian, TC Memo 2008-101, where the Tax
Court held that because a disabled pensioner?s disability benefits
effectively terminated under Minnesota law once he turned age 50 and
became a deemed service pensioner, his payments could no longer be
characterized as compensation for personal injuries under SS104(a) for
federal income tax purposes."
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Default New York is *my* city...

On Tuesday, July 23, 2013 7:55:03 AM UTC-4, iBoaterer wrote:
In article ,

says...



On Mon, 22 Jul 2013 14:47:01 -0400, iBoaterer


wrote:




In article ,


says...




On Mon, 22 Jul 2013 12:34:17 -0500, Califbill


wrote:




wrote:


On Sun, 21 Jul 2013 04:49:53 -0700 (PDT), True North


wrote:




Tax free??


No wonder 'merica is teetering on bankruptcy




Yup any fireman or cop who retires on disability is immune from state


or federal taxes on their pension.




BTW I am sad about my neighbor, He had a massive stroke last night and


did not wake up




RIP Les Stacho. We will miss you.




Only up to 50% is tax free. But here in California 90+% of firemen retire


on disability. Seems as if they could do the job for all 30 years, but


get.a disability rating on retirement. I thought Florida had no personal


income tax.




He was not paying ANY federal income tax.




Cite?




A legal decision that reaffirms this.


http://ericjohnltd.com/ericjohnltd/2...pension-issue/



Oh, man.....



"The IRS argued that the benefits paid after turning age 50 were taxable

retirement income. It cited Tateosian, TC Memo 2008-101, where the Tax

Court held that because a disabled pensioner?s disability benefits

effectively terminated under Minnesota law once he turned age 50 and

became a deemed service pensioner, his payments could no longer be

characterized as compensation for personal injuries under SS104(a) for

federal income tax purposes."


Keep reading:

"The Tax Court determined that the benefits were nontaxable and rejected the IRS’s reliance on Tateosian. Instead the Court looked to precedent from the Ninth Court, to which an Appeal case would be heard and determined that the payments were not retirement benefits because they were determined with reference to his age and years of service.

For purposes of qualifying for retirement, the fact that the plan deems time spent on disability as equivalent to time spent working does not change the treatment for federal income tax purposes. So if someone completed less than 20 years of service, they would not be eligible for retirement payments; therefore, the character of the payments are *nontaxable* disability payments for federal income tax purposes."

"Oh, man" is right..
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