Greetings.
With tax time approaching, military servicemembers and their families should take the opportunity to learn about the special IRS advantages reserved for them.
For instance, most deployed servicemembers already know that combat pay isn’t taxable.
But some may not know that they can request extensions for paying taxes, filing tax returns and contributing to retirement accounts.
National Guard and Reserve members also qualify for reimbursed travel expenses if their duties take place more than 100 miles from home.
What’s more, their uniform purchases and maintenance can be tax-deductible.
Military spouses get a break of their own.
The Military Spouses Residency Relief Act has allowed spouses to keep an established state of residency, even when relocating, since 2009.
That means they may not have to pay state income tax in their current state.
These are just a few of many IRS tax advantages.
If you’ve got the time, explore them all.