Obama: Social Security Checks Will Stop When Debt Ceiling Is Reached. WASHINGTON -- President Barack Obama said Thursday that while it's bad members of Congress have allowed a government shutdown, it would be worse if they failed to increase the government's borrowing authority later this month.
Respite Care. Respite Care is short term care, usually only a few days at a time, provided for children who have significant needs. These may include developmental delays, mental health or behavioral issues, and special health care needs. Respite Care provides a needed break to parents and care givers. Payment for Respite Care is considered taxable income.
Taxable income from retired pay does not include the amount of SBP deductions. Participants are taxed only on what they actually receive. For example, if a retiree's non-disability retired pay is $6,000 a year and is reduced by $700 for SBP, only the reduced retired pay of $5,300 need be included as taxable income on the Federal income tax return. The SBP payable to the designated beneficiary is subject to Federal income tax, but is not subject to Federal estate tax.