Newly-revised publication explains tax benefits for military members
Whether we know a friend or family member serving our country in the military, or if our line of business works with the men and women in the armed forces, the newly released Armed Forces’ Tax Guide, available at the IRS website, may be useful beneficial to know.
The publication describes:
- The provision allowing armed forces reservists to deduct their reservist-related travel expenses
- The moving expense deduction still available to active-duty members of the military in connection with a change of station
- The special benefits available to those serving in a combat zone
- The special rules for figuring the Earned Income Tax Credit for low- and moderate-income workers and families and the extended deadlines available for filing returns, paying taxes and claiming refunds
To view or download the free publication, visit IRS.gov/pub3.