Noteboom The Law Firm

Suffering From PTSD May Soon Mean A Tax Break

August 19, 2010 - On Monday, the Senate Military and Veterans Affairs Committee approved legislation (S-1026) allowing veterans requiring psychological counseling upon returning from war to take an income tax credit. 

Senate Majority Leader Barbara Buono (D) co-sponsored the legislation and will request Congress to pass a second bill to eliminate a loophole in veterans' ability to get counseling. Both bills focus on veterans returning from Iraq and Afghanistan suffering from PTSD and are a suicide threat.

Many veterans returning from Iraq and Afghanistan suffer incredible post-combat stress. Many of the veterans looking for psychological help must first overcome bureaucratic red tape and growing expenses, which means many veterans go without treatment. It is feared if it is not made easier for these veterans to get help, more may end up committing suicide.

S-1026 provides veterans with a direct state income tax credit up to $10,000. This credit will be used for un-reimbursed psychiatric treatment. The legislation will now be considered by the Senate Budget and Appropriations Committee.

There is no reason why veterans and their families should have to forego counseling because they cannot afford to attend. The direct tax credit will allow these veterans to get the counseling they so desperately need and the incentive to get that counseling.