HEART Act Provides Benefits for Those in Military Service

The House of Representatives and the Senate passed the Heroes Earnings Assistance and Relief Tax (HEART) Act of 2008 (H.R. 6081) on May 20, 2008 and May 22, 2008, respectively.  The bill has been cleared for the White House for the President's signature, and the President is expected to sign the bill into law soon.  The HEART Act amends the Internal Revenue Code and the Social Security Act to provide certain tax benefits and incentives to military personnel.