A tax law passed in May of 2006 that offers military personnel stationed in combat zones and receiving tax-free combat pay the opportunity to use a traditional or Roth IRA for retirement savings. Previously, IRAs were not open to service members earning their full income in combat pay. The law was made retroactive to 2004 so that contributions could be made for those past years as well.
Related information about Heroes Earned Retirement Opportunities Act (HERO):
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May 18, 2006 ... Legislation passed by Congress on May 18, 2006, that allows tax-free combat- related compensation received by military personnel to be ...
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Dec 16, 2010 ... Heroes Earned Retirement Opportunities Act (HERO Act). In order to make IRA contributions a reality for service men and women who receive ...
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Definition of Heroes Earned Retirement Opportunities Act (HERO): A tax law passed in May of 2006 that offers military personnel stationed in combat zones and ...
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Heroes Earned Retirement Opportunities Act (HERO) · asset retirement obligation · Federal Employee Retirement System (FERS) · Individual Retirement ...
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(3) Section 2 of the Heroes Earned Retirement Opportunities Act (“HERO Act”),. Pub. L. 109-227, provided that compensation earned by members of the armed ...
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The new Heroes Earned Retirement Opportunities Act (HERO Act), signed into law by President Bush earlier this year, also provides military taxpayers with ...
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On May 29, 2006, the President signed the “Heroes Earned Retirement Opportunities Act” (HERO Act) into law. The HERO Act allows excluded combat pa to be ...
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Aug 2, 2011 ... post-2003 years [Citation: Heroes Earned Retirement Opportunities Act (HERO Act), P.L. 109-227, signed into law on May 29, 2006].