Income Tax Exemption for Veterans
New for Tax Year 2017. You are eligible for a $3,000 exemption on your Income Tax return if you are a military veteran who was honorably discharged or released under honorable circumstances from active duty in the Armed Forces of the United States by the last day of the tax year. Your spouse (or civil union partner) is also eligible for an exemption if he/she is a veteran who was honorably discharged or released under honorable circumstances and you are filing a joint return. This exemption is in addition to any other exemptions you are entitled to claim and is available on both the resident and nonresident returns. You cannot claim this exemption for a domestic partner or for your dependents.
You must provide a copy of Form DD-214, Certificate of Release or Discharge from Active Duty, the first time you claim the exemption. This form does not need to be provided each year. The United States National Archives and Records Administration can assist with obtaining a copy of your DD-214.
You can certify for the exemption by sending a copy of your DD-214 and Veteran Exemption Submission Form to the Division before you file, which may help process your return faster. To certify:
- Use our secure document upload feature to submit your DD-214 and Veteran Exemption Submission Form. Enter the notice code VET and select PO Box 440; or
- Mail a copy of your DD-214 and Veteran Exemption Submission Form to: The New Jersey Division of Taxation, Veteran Exemption, PO Box 440, Trenton, NJ 08646-0440; or
- Fax your DD-214 and Veteran Exemption Submission Form to 609-633-8427.
If you do not certify before you file for the exemption, you will need to submit a copy of your DD-214 when you file using:
- A Paper Return. Enclose a copy of your DD-214 with your return;
- NJ Fill’nFile. Upload your DD-214, along with all of your other documentation, into the repository;
- Other Electronic Filing Methods. If you file your return using NJ WebFile, third-party software (such as TurboTax), or you have a tax professional who electronically submits your return, you can send a copy of your DD-214 and Veteran Exemption Submission Formusing one of the three certification methods listed above.
Colleagues and Fellow Veterans,
The VA Interest Rate Reduction Refinance Loan (IRRRL) lowers your interest rate by refinancing your existing VA home loan. During FY17, VA guaranteed over 190,000 home loans under this program. In FY 2017, there were nearly 1,500 lenders that participate in the VA Home Loan program.
The VA and the Consumer Financial Protection Bureau (CFPB) have issued their first Warning Order to Servicemembers and Veterans who currently have a VA home loan, as we have found that some of you are being targeted with misleading advertising.
If you are contacted to refinance your VA mortgage, carefully consider your options and ask questions:
- Does a lower interest rate extend the term (i.e., 30-year fixed rate to another 30-year fixed rate)?
- What are the financial implications when choosing between a fixed term and an adjustable rate mortgage loan?
- What is your total payback for the new loan vs. the original loan?
- Do offers of skipped payments or cash back ultimately get added to my loan amount?
Legion looks forward to issuance of commemorative coins
The American Legion
Sep 26, 2017
On Sept. 25, the U.S. House of Representatives voted on House Resolution (H.R.) 2519, The
American Legion 100th Anniversary Commemorative Coin Act, a bill that would require the
Department of Treasury to mint and issue gold, silver and half-dollar clad coins in celebration of
the centennial of the Legion, for one year, beginning in January 2019.
The bill has made steady progress since being introduced to Congress earlier this year. Over the
past few months, Legionnaires have been gathering support and co-sponsors for the bill in both
the House of Representatives and Senate (S. 1182). The Senate measure passed the chamber on
The Legion has worked tirelessly to ensure H.R. 2519 passes and advances to the White House
for the president’s signature, according to James Oxford, chairman of The American Legion’s
“This is great news that the House of Representatives passed H.R. 2519 today,” he said. “Out of
all of the coin bills authorized in the last decade, The American Legion broke the record for cosponsors.
The previous record was held by the U.S. Army with 348. We currently have 375 and
Unique among U.S. Mint products, all surcharges received from the sale of The American
Legion centennial coin will help raise money for Legion programs that support veterans, service
members and their families, as well as commemorate important aspects of American history and
culture. The funds gained from sales will support caring for those who served and are currently
serving in the armed forces, and programs that maintain patriotic values, strong families and
assistance for at-risk children.
"Since 1919, The American Legion has dedicated itself to serving our nation's veterans,” said
Congressman Phil Roe, R-Tenn., chairman of the House Committee on Veterans’ Affairs. “I
look forward to continuing to work alongside The American Legion in our shared goal of
improving the lives of America’s heroes."
Congress only authorizes the minting of two commemorative coins per year, an honor Oxford
said that the nation’s largest veterans organization is proud to share.
“The money that is generated from these commemorative coins will allow us to fund good,
quality programs for youth, national security, deployed service members and veterans,” Oxford
October 2017 - None
October 2017 - None
William J. Hocking - Post 91
Our 90th Anniversary is in 2018
The Post has created a History Committee - See Post History Tab for details!
The goal of the committee is to assemble stories, facts, photos of the Post for the last 90 years which will be written into a book. The Post History book will be publised by 2018. Your contributions are essential to capturing the spirit and activities of Post 91.