41 C.F.R. § 301-11.527 If I elect a lump sum payment, how is the ITRA paid?
Title 41 - Public Contracts and Property Management
(a) Reimbursement is as illustrated: (b) Reimbursement of the ITRA and the tax on the ITRA is a final lump sum payment with no further reimbursement. You will be responsible for any income taxes due on $19,307.
Title 41: Public Contracts and Property Management
PART 301–11—PER DIEM EXPENSES
Subpart E—Income Tax Reimbursement Allowance (ITRA), Tax Years 1993 and 1994
Employee Responsibilities
§ 301-11.527 If I elect a lump sum payment, how is the ITRA paid?
Lump Sum ITRA Tax Paid to Employee------------------------------------------------------------------------ ------------------------------------------------------------------------ITRA reimbursement for tax year 1993.......................... $14,435Federal Tax liability on ITRA Reimbursement (@ 28%)........... 4,042VA State tax liability (@ 5.75%).............................. 830Local tax liability........................................... 0 --------- Total reimbursement......................................... 19,307------------------------------------------------------------------------
