According to information provided at www.Military.com, paydays for military retirees and those who receive portions of retired pay are changing for September and December,as the Defense Finance and Accounting Service (DFAS) changes its pay schedule to comply with the 2011 National Defense Authorization Act.

This year payments normally scheduled for Oct. 3, 2011 will be issued on Sept. 30, 2011 and payments normally scheduled for Jan. 3, 2012, will be issued on Dec. 30, 2011. For the calendar year 2011, this means military retirees will receive 13 rather than the normal 12 payments.

Retirees should be aware that this extra paycheck could affect their taxes and therefore they should speak with a tax advisor, the Internal Revenue Service or their state tax authority to determine if their tax withholding will satisfy federal and state income taxes when they file returns next year. Need more details?  See the Military Advantage blog.

 



 

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This post has been included in Louisiana Real Estate News Bossier Parish, LA Real Estate News Bossier City, LA Real Estate News
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9 Comments on Paydays for Military Retirees Are Changing

SEP
06
2011
704,298 Points 10 Featured Posts Outside Blog Called Shot Master

Louise,

This is really great information for Veterans and I am very happy to see someone post this kind of data as these folks usually don't get the help or assistance they need. Have a great day.
1:04pm • #1
260,612 Points 55 Featured Posts Outside Blog Called Shot Master

I had no idea this was happening.  Good information for me to pass along!
1:12pm • #2
157,566 Points 6 Featured Posts Outside Blog Called Shot Master

Thanks for your coomments, Bob and Rebekah - yes, we DO need to pass along good information for veterans.
8:58pm • #3
SEP
07
2011
379,351 Points 84 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Louise - you always have your finger on the pulse of all things happening and this will help explain a lot to the many veterans who will be effected by the changes. Kudos to you for putting this information out there!
8:13am • #4
SEP
08
2011
492,317 Points 10 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Good Evening Louise,

Thank you very much for providing this information.  I look forward to the extra paycheck in 2011.
1:05am • #5
157,566 Points 6 Featured Posts Outside Blog Called Shot Master

Thank you for serving, Lloyd!  ENJOY that extra check!
1:15am • #6
106,419 Points 1 Featured Post

Louise,

Thanks for the update. I work with military personnel also.

1:21am • #7
516,953 Points Outside Blog Called Shot Master

Thank you for the information and it is interesting for my military clients.
1:53am • #8
SEP
11
2011
354,654 Points 19 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Let's hope those checks will clear. I heard Uncle's credit rating has taken a beating in some quarters.
11:45pm • #9


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