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What’s
in store for filing your 2003 tax return?
Liberty Tax Service
reminds you that there are changes in tax rate brackets, capital gains,
and retirement account contributions.
World
Airways announces settlement with pilots
Peachtree City’s
World Airways, Inc. announced that it has reached a tentative agreement
with the International Brotherhood of Teamsters (IBT) for an extension
of the agreement covering World’s cockpit crewmembers who are represented
by the IBT.
Furloughed
ALPA pilots may get big tax break
A recent ruling
from the IRS will benefit furloughed airline pilots to the tune of hundreds
or even thousands of dollars. In September 2003, a Private Letter Ruling
by the IRS was issued and concluded that health care benefits paid by
the Air Line Pilot’s Association on behalf of its furloughed members
is not required to be included as income for the tax year. This applies
to tax year 2003 as well as previous years. Amended federal and state
tax returns would need to be filed to recover the tax paid on these
benefits for 2000, 2001 and 2002.
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