Hello to all of you,
I am fairly new to the vbn and have never reviewed the information on this forum until today...but I am glad I clicked onto it because I am happy to have learned a few things about finances and taxes as it pertains to disability payments.
I am 100% P&T IU, and I am receiving disability retirement pay fromt the Post Office. (I have also applied for SSDI).
My question is as follows......if I owe back taxes to the IRS and decide to do what they call an (Offer and Compromise) to pay back an agreed amount, do I have to include the compensation from both the (VA) disability and the (Post Office) or do I list only the Post Office amount since it is taxable and the VA payment is not?
Any information is appreciated.
100% P%T IU