2018-02-07 / Community

VA Benefits are Tax Exempt

As the tax deadline approaches, Georgia Commissioner of Veterans Service Mike Roby wants to remind all veterans and their families that benefits paid under any law administered by the U.S. Department of Veterans Affairs are tax exempt.

“This is especially helpful for those veterans and their families living on fixed incomes,” said Commissioner Roby.

VA benefits that are tax exempt include disability compensation and pension payments paid either to veterans or their families; education, training, and subsistence allowances; grants for homes designed for wheelchair living; grants for motor vehicles for veterans who lost their sight or the use of their limbs; GI insurance dividends paid to either veterans or their beneficiaries; and interest on dividends left on deposit with VA.

Interest accumulated on money from VA benefits deposited into any type of interest-bearing account may be taxable. Veterans with questions relating to these tax issues or any other tax matter should consult with a tax advisor or by calling 1-800-829- 1040 between 7:30 a.m. and 5:30 p.m.

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