Brought to you by WBIW News and Network Indiana
Last updated on Tuesday, September 8, 2015
(UNDATED) - Retired federal civil service workers and their survivors who are receiving an annuity based on the Civil Service Retirement System and live in Indiana are eligible for a new tax deduction based on a bill signed by Gov. Mike Pence in May.
An $8,000 deduction is retroactive to January 1, and will be $16,000 beginning in 2016, according to a news release issued by the Indiana Federation of National Active and Retired Federal Employees.
Previously, survivors of CSRS annuitants w ho receive this type of survivor annuity were not allowed any tax deduction in Indiana.
Although CSRS retirees must be at least 62 years old to receive the deduction, the age restriction does not apply to survivors.
Other limitations may apply if the annuitant is also receiving Social Security.
For more information, contact Barbara Terry, NARFE Chapter 0578, at (812) 279-3056 or send an email to NARFEChapter0578@gmail.com.
1340 AM WBIW welcomes comments and suggestions by calling 812.277.1340 during normal business hours or by email at comments@wbiw.com
© Ad-Venture Media, Inc. All Rights Reserved.