Thread: VSP payback
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Old 07-11-2007, 06:01 PM
  #63  
ficone
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Joined APC: May 2007
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Originally Posted by nightfreight View Post
I understand that if you guys that take the VSP end up retiring from the guard that you will be required to pay back the VSP money. Now, if they took 25% taxes from the VSP, you will still be required to pay the entire VSP? Sounds like you may pay taxes to the feds then have to pay back the entire amount?
I haven't asked about this yet, but I would probably count on not getting those taxes back. Though perhaps once you started receiving the retirement pay, whatever portion of your paycheck went towards the repayment would be non taxable?

Any people out there smart on the IRS?
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