Deemed Taxes QRLSP Info (Qualifying Retroactive Lump-Sum Payments)

Ya I was in "2 troop terrors" 1CER CFB Chillibowl. Remember "Earthquake Annies?" or the Jolly Miller? Crock n block? Good times there.
Chimo

Thanks man i read before you were in the Wack i got there later in 96 basicly when it shut down..

I believe you can "take it all in one year" as 1 years income, or spread it out over the years "you should have received it" and redo your taxes for those years. There is no "deemed taxes" if taken in one year. Based on your amount of $30,000.00 you will be ok on taxes for the year too. No worries.
You can also claim your Fees on your tax return, thus lowering your income further.
Holdfast-out
Chimo

I don't know how to put it but here it goes i wil be getting like 30000probably going to just putting it all in one year, Will there be that demmed tax or whatever on this if done so .. or if i did it the last 2 years does it matter..? i have read a lot of the blog here but i am getting messed up can someone help me on this please and thank you ....

WOW here we go again, Belittling VETS. SEEN THIS MOVIE 1 TOO MANY TIMES NOW! remember, before you fire that belittling round down range, Take the BFA off cause you know what happens if you dont!

In the lawyers defence, they really are only asking for 7.5% of our clawback ... However .. the rest of the % is based on money that they think we might get until age 65. (oh and don't forget that the scholarship fund is included in the "total value" of the settlement that they are asking for a percentage of)

Maybe this is something that can be worked into the judges decission? (since that is the only thing that the judge can change).

What if Judge Barnes decided "Yes the law firm is entitled to the 7.5% of the clawback... BUT ... leave the Vets future earnings alone!!!". If they really only want 7.5% like they told the news then they would still make 31.8 Million (7.5% of 424.3 million in retro payments)

That in my opinion would truely be "fair" and "honorable"

I think it is high time for some of you folks to grow up...

Greatfoot

"WE SEE 17.83% Legal Fees

THE PUBLIC WILL SEE 7.5% AS LISTED IN THE AGREEMENT."

I know even on the news it said's the lawyers are asking for 7.5% but it's nit the truth why do they talk in riddles be upfront we want this or than. but no let the Judge decide.

This whole case has already been decide its just a waiting game now just smoke and mirrors now.

The cooling down process they are already calculating and preparing checks.

The outcome will not change

Yes it appears that way, time will tell.

Like in the service Put Up and Shut Up.

Call of Duty. Agreed, it appears to have worked that way hasn't it.

Looks like both sides found a way to look good, But in the end, Lawyers get 7.5 upped to 17.83 %, and GOC gets massive tax income returned. Funny how that worked in Negotiations. wink wink-nod nod.... hmmmm.

WE SEE 17.83% Legal Fees

THE PUBLIC WILL SEE 7.5% AS LISTED IN THE AGREEMENT.

WHAT A PILE OF ORWELLIAN DOUBLESPEAK!

This has been a very frustrating expierience and why is that. First a Gag order so we dont get info, to react to, or add imput , 7500 clas members, and blind as Bats, then a proposal thats forced on us thats only a Yes or NO option, with again very little imput, other then the Legal fee issue, are we in RUSSIA! WTH.

Georges, I think it will be the vets who pay the legal fees. I don't see the Treasury Board or any GOC entity being instructed to pay the legal fees. The settlement is done and I was told the judge will say yay or nay and will only determine contingency fees and that is it.