Recent content by brnt

I have used Quicken Loans for two VA loans and would recommend them. I refi'd out of an ARM into a fixed rate note several years ago. A few years after that called me and said the rates had dropped and they could do a VA IRRL to lower my rate to 3.25% if I wanted. No out of pocket and no fees...

My W2 did not include severance pay. At any rate, your severance is not taxable. See IRS pub 17 pg 52 that states "If you receive a lump-sum disability severance payment and are later awarded VA disability benefits, exclude 100% of the severance benefit from your income. However, you must...

Orion69, Congratulations on your retirement! --brnt

Commosgt, I have not sent my package in yet. I have it ready but am just nervous about not having everything right. I know I should just get over it and send it in since I can only gain from it. Since it is a one shot deal with no chance to contest the board decision, I have been hesitant...

Out of curiosity, does anyone know if all cases are taking longer due to the Sabo case/lawsuit or only those cases related to PTSD/mental health? It is logical that mental health/PTSD cases may be held up, but I wonder if a strictly orthopedic case would be held up? Thanks!

I didn't have over 12 years, but my separation date was 30 Nov (back in 2003). I received my severance pay in the form of a single US Treasury check in mid-February 2004. I am sure the holidays slowed the process down. As far as the taxes go, your wife will fall under NDAA 2008, so it should...

Kevin, First, I am not an expert on this stuff and have limited knowledge of the CRSC stuff. I believe CRSC pay is not offset by VA pay and you should be able to collect back pay on that. You may also be entitled to retirement back pay. We can do a little research on your ratings and see where...

jtol76, Unfortunately, I think the lady at DFAS is correct. If you are a chapter 61 retiree (which means you are not eligible for concurrent receipt of retired pay and VA compensation) you may elect to receive the tax benefit of reducing your taxable military retirement pay by your VA...

I was also discharged at the end of November. I think the holidays slowed my check's arrival a little, but expect it to take a few months. I received my check in mid-February. I was discharged in 2003, so they may have gotten a little more efficient since then.

I had 25% Federal and 6% state (NC) withheld from my AF severance.

Seminole, Based on my limited understanding, I think you are right to be hesitant. Based on your posts, you got 30% disability retirement from the service and were an E-6 with over 10 years at time of discharge in 2004. In 2004 the monthly base pay was $2596.20. Had you been retired rather...

Jtol, See my previous post. I think the answer depends on your VA rating and your military retirement percentage (based on grade/rank at retirement, time in service, and disability percentage). If you have a high VA rating, your VA compensation likely exceeds your military retirement. Just...

I think I am beginning to understand this a little better. VA does not return the severance or stop recouping the severance because they view disability severance funds as a lump sum cash advance of VA disability compensation. Because Chapter 61 retirees can elect to receive VA pay in lieu of...