Tax Day is a day to reflect on our shared duties of sacrifice and support

FOR IMMEDIATE RELEASE

New York, New York - Today is Tax Day in the United States of America—a day few look forward to, but one that stands as a cornerstone of our democratic republic. At Hof Law, the firm recognizes that paying taxes is rarely celebrated, and understandably so. For many, it feels like a reach in to our pockets by “the man” or another distant intrusion by the Federal government. It is easy to focus on what we disagree with, to lament how our hard-earned money may be spent, and to assume the worst of the system.

But the very fact that Tax Day arrives each year—without collapse in to dysfunction or disorder—is a quiet yet profound testament to the strength of our institutions and the shared commitment of everyday Americans to something larger than ourselves.

Inside the Beltway, debates over spending priorities rage on. But it is the people outside the Beltway—the working families, veterans, business owners, and community leaders—who fund the debates in the first place. While we may not all agree on how every dollar is spent, we overwhelmingly support the ideals behind that spending: security, health, opportunity, and dignity for our fellow citizens.

At Hof Law, the firm is reminded of this every day in the firm's work with severely disabled veterans (SDVs), many of whom rely on Federal funding—raised through taxation—to access essential care and benefits. In particular, the firm has experience representing a SDV who, due to the impacts of the signs and symptoms of his service-connected conditions, transferred or withdrew qualified assets of a Roth Brokerage Individual Retirement Account. The firm helped such individual draft and transmit correspondence to a national financial institution and the Internal Revenue Service (IRS), asserting a right to exemption from State and Federal tax liability pursuant to the intersection of 26 U.S.C. § 72(m)(7) with 38 C.F.R. § 4.130. The matter highlighted the interplay of tax policy with real human need—and how the system, when engaged properly, can work to support those who have borne the burden of national defense.

If you or a loved one is a SDV, and you believe your financial decisions have been directly impacted by the signs and symptoms of your service-connected condition, we encourage you to seek help. Reach out to your financial institution, the IRS, or contact Hof Law. We are here to help ensure that the system serves those it was designed to protect.

Today may not feel like a holiday—but it is one of the most necessary days on our civic calendar. Tax Day reminds us that we are not just individuals—we are a society, and in that society, sacrifice is shared, benefits are earned, and when it works as it should, no one is left behind.