Special Tax Benefits for Military Members and Families
IRS Publication 3, Armed Forces Tax Guide, is a free booklet packed with valuable information and tips designed to help service members and their families take advantage of all tax benefits allowed by law. Here are some of those tax benefits:
*Combat pay is partially or fully tax-free. Service members serving in support of a combat zone may also qualify for this exclusion.
*Reservists whose reserve-related duties take them more than 100 miles from home can deduct their unreimbursed travel expenses, even if they don’t itemize their deductions.
*The Earned Income Tax Credit - A special computation method is available for those who receive nontaxable combat pay.
*An automatic extension to file a federal income tax return is available to U.S. service members stationed abroad. Also, those serving in a combat zone typically have until 180 days after they leave the combat zone to file and to pay any tax due.
*Most military bases offer free tax preparation and filing assistance during the tax filing season.
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