I received 2 bonus payments for reenlisting in the navy reserves in the tax year of 2024. Do I receive some of that money back or does it mean I have to pay more?
I received 2 bonus payments for reenlisting in the navy reserves in the tax year of 2024. Do I receive some of that money back or does it mean I have to pay more?
Are you asking whether the payments are taxable? Or are you asking something else?
Military bonus payments are subject to taxation at the time of payment. However, you will not be taxed for a bonus paid while you are serving in a combat zone.
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