Hey vets and service members are you aware of the tax breaks and resources available from the IRS? Check out the details and don’t miss out on these veteran benefits and most importantly, don’t miss out on tax credits and deductions!
Free Tax Preparation for Military and Their Families
Most military bases offer free tax prep and filing assistance during the tax filing season, some even extend assistance past the filing deadline!
These services are typically staffed with Military VITA-certified employees and receive training on military tax issues, like tax benefits for service in a combat zone. They can help with special extensions of time to file tax returns and to pay taxes or with special rules that apply to the Earned Income Tax Credit.
If you prepare your own tax return you may qualify to e-file their federal return for free using IRS Free File if your income in 2021 was below $73,000.
All military members and qualifying veterans can use MilTax, its a free tax service from the Department of Defense and Military OneSource.
Visit Free Tax Help Available for the Military for more details.
The Armed Forces Tax Guide (Information, Benefits and Tax Credits)
The IRS also provides the Armed Forces Tax Guide, which is a free booklet that has a ton of valuable information and tips to help service members or their families navigate and take advantage of benefits and resources.
Some of the notable benefits include:
- Details on tax-free Combat Pay
- Qualifications for foreign earned income exclusion
- Qualifications for tax filing extensions
- Maximizing EITC Credits
- Retroactive tax benefits
- Moving expenses and deductions
View the Armed Forces Tax Guide
More tax resources can be found at https://www.irs.gov/individuals/information-for-veterans