Posted on Dec 18, 2018
During tax season can I file to get back the taxes on my Enlisted Affiliated Bonus? If so, how do I do that?
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So I went from active duty to the reserves and I received a EAB (enlisted affiliated bonus) upon switching and it was a hefty bonus but they took around 4-5 thousand out for taxes. During tax season can I file to get that money back? If so how do I do that?
Retention
Taxes
Posted 6 y ago
Responses: 5
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There is nothing special to do. Your bonus counts as taxable income and you paid 22% in taxes, which means you almost certainly overpaid your taxes. You will receive whatever extra you overpaid for the year.
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SGT James LeFebvre
I would suggest either a tax professional or using software (Turbotax or the like) for doing your taxes. Like SFC (Join to see) said, you most likely overpaid.
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SFC (Join to see)
SGT James LeFebvre taxact online, and tax slayer provide free returns for military
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SGT James LeFebvre
SFC (Join to see) - You're right, I forgot about those, guess I've been out of the loop a bit too long.
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You should get a W-2 from DFAS showing your earnings and taxes withheld. I'm not familiar with EAB, so it may be in the W-2 or a supplimental tax form. Check out the DFAS website or call them. SFC (Join to see) is absolutely correct...if you fill out your taxes properly (and you haven't earned more than the 22% tax bracket), most of that money will be refunded. Good luck.
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Your bonus is taxed at 25%, which is close to what SFC Boyd stated.
When you file taxes on or before April 16th, you will get whatever back that you're entitled to for your tax bracket and exemptions.
When you file taxes on or before April 16th, you will get whatever back that you're entitled to for your tax bracket and exemptions.
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SFC (Join to see)
Actually, bonuses are automatically taxed at 22% unless you're in a combat tax exclusion Zone. That was changed earlier this year, and previously the tax rate was 25% for bonuses. The 22% rate is mandated by federal law, and then if the person has state taxes, those will be in addition to 22%
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SFC (Join to see)
Well, there you go.
That explains why everyone I know who got bonuses that exceeded 10k were given the first lump and it ended up being 7500 for some and a little less for the others that paid state taxes.
I know regulations on this type of stuff change semi-regularly. Like the lump sum options and immediate tax burdens.
That explains why everyone I know who got bonuses that exceeded 10k were given the first lump and it ended up being 7500 for some and a little less for the others that paid state taxes.
I know regulations on this type of stuff change semi-regularly. Like the lump sum options and immediate tax burdens.
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