If you're in the Armed Forces, there are several special tax benefits that apply to you: First, you may be eligible for a combat zone exclusion, which means some or all of your combat pay could be tax-free. However, you may choose instead to include tax-free combat pay in your earned income when you file your [...]
This article was published by the IRS. The IRS has a variety of resources to help members of the military, veterans, and their families navigate the unique and sometimes complex circumstances that come with filing taxes while in the military. Here's a list of some of the resources these taxpayers may find helpful: Tax Information for [...]
This article was published by the IRS. During the summer many students focus on making money from a summer job. They may want to gain work experience, earn some spending money or help pay for college. Here are some facts all student workers should know about summer jobs and taxes. Not all the money they earn [...]
The following article was published by the IRS. Certain U.S. citizens or resident aliens, specifically contractors or employees of contractors supporting the U.S. Armed Forces in designated combat zones, may now qualify for the foreign earned income exclusion. The Bipartisan Budget Act of 2018, enacted in February, changed the tax home requirement for eligible taxpayers, enabling [...]
The following article was published by the IRS. The IRS is advising certain veterans who received disability severance payments after January 17, 1991, and included that payment as income that they should file Form 1040X, Amended U.S. Individual Income Tax Return, to claim a credit or refund of the overpayment attributable to the disability severance payment. [...]
