President Donald Trump's tax overhaul is forcing some military families to pay thousands of dollars more in taxes on their survivor benefits, according to a nonprofit organization that helps those families
Spouses who signed over their earned benefits to their children -- a move that is done in order to ensure the family of a deceased service member temporarily receives all their benefits -- saw an increase in taxes this year because the new tax law reclassified how children's assets are taxed, Tragedy Assistance Program for Survivors says.In past years, Gold Star families who chose this option paid an average of 12% to 15% in taxes on that income.
But military widows and widowers can select the"Child Option" and sign over their Defense Department benefits to their children while they are minors in order to receive the full amount of both concurrently, according to the non-profit.The new tax law, however, puts the children of service members"into a different tax bracket known as the 'Kiddie Tax' at a 37% tax rate," according to an information sheet the organization released.
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