Heroes Earning Assistance & Tax Act
The Heroes Earnings Assistance and Tax Relief Act of 2008 is a piece of United Stares legislation that deals primarily with amending the Internal Revenue Code of 1986 to provide for new tax exemptions for military personnel.
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Function
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The act's primary purpose is to give various tax exemptions to military personnel. It accomplishes this in a variety of ways, including exempting a married couple from having to file jointly if one of the two are currently serving in the armed forces, and making combat zone compensation count as earned income for the sake of the earned income tax credit.
Miscellaneous
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The act also includes some sections not related to benefits for military personnel. These include increasing the penalty for a failure to file a tax return and also making the employees of certain foreign subsidiaries of U.S. companies count as U.S. employees for the sake of receiving Social Security and Medicare benefits.
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History
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The act was originally proposed by Representative Charles Rangel of New York on May 16, 2008. It passed the Senate on May 22, 2008 and was signed into law by President George W. Bush on Jun. 17, 2008.
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