IRS Marks National Military Appreciation Month; Free Tax Guide Focuses on Tax Benefits for Members of the Military

WASHINGTON — May is National Military Appreciation Month, and the Internal Revenue Service wants members of the military and their families to know about the many tax benefits available to them.

Each year, the IRS publishes Publication 3, Armed Forces Tax Guide, 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. This year’s edition is posted on IRS.gov. Available tax benefits include:

  • Combat pay is partly or fully tax-free.
  • Reservists whose reserve-related duties take them more than 100 miles from home can deduct their unreimbursed travel expenses on Form 2106 or Form 2106-EZ, even if they don’t itemize their deductions.
  • Eligible unreimbursed moving expenses are deductible on Form 3903.
  • Low-and moderate-income service members often qualify for such family-friendly tax benefits as the Earned Income Tax Credit, and a special computation method is available for those who receive combat pay.
  • Low-and moderate-income service members who contribute to an IRA or 401(k)-type retirement plan, such as the federal government’s Thrift Savings Plan, can often claim the saver’s credit, also known as the retirement savings contributions credit, on Form 8880.
  • Service members stationed abroad have extra time, until June 15, to file a federal income tax return. Those serving in a combat zone have even longer, typically until 180 days after they leave the combat zone.
  • Service members may qualify to delay payment of income tax due before or during their period of service. See Publication 3 for details including how to request relief.

Service members who prepare their own return qualify to electronically file their federal return for free using IRS Free File. In addition, the IRS partners with the military through the Volunteer Income Tax Assistance program to provide free tax preparation to service members and their families at bases in the United States and around the world.

No Author Biography has been linked to this Article.

Related Articles

April 5, 2020
By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) During the free Academy webinar The CARES Act – Impacts on Chapter 13 on April 2, 2020, the panel – Judge Wm. Houston Brown (Retired), Amanda DeBerry and I – referred to the importance of detailing the reasons for modifications or suspensions to be related to financial hardship stemming...
Members
August 18, 2019
Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year. Doing so can help them avoid an unexpected tax bill and possibly a penalty when they file next year. Everyone must pay tax as they earn income. Taxpayers who earn a paycheck usually have their employer withhold tax from...
November 24, 2019
By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) One of the most confusing elements in consumer bankruptcy practice is the effect of electing the option given in § 1325(a)(5)(C) or § 521(a)(2). Section 521(a)(2) requires every debtor to file a statement of intent that indicates whether the debtor intends to “surrender or retain” estate property which secured...
Members
September 12, 2021
By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) Introduction In re Taggart In 2019, the Supreme Court in In re Taggart1 ruled that the acts alleged in that case to be in violation of a discharge injunction did not empower the bankruptcy court to find the creditor in contempt. In so holding, the Court ostensibly attempted to strike...
Members
NBR cropped 2
October 9, 2022
Dear Readers: We are all working at what feels like the speed of light these days. (And if we’re not, then we’re upset that work is too slow. Yes, we feel like Goldilocks—work’s either too busy or not busy enough.) But the wonderful Regina has asked me a question that often relates to someone hitting “send” too soon: “When opposing...
Members
August 8, 2021
By Academy Staff Section 1307(b) provides: On request of the debtor at any time, if the case has not been converted under Section 706, Section 1112, or Section 1208, the court shall dismiss a case under this chapter. This seemingly straightforward provision has generated significant litigation and produced multiple conflicting decisions. Does a Debtor have a right to dismiss a...
Members
November 15, 2020
Lawrence R. Ahern, III Brown & Ahern Nashville, Tennessee Appendix C Bankruptcy Court Miscellaneous Fee Schedule (28 U.S.C § 1930) Effective December 1, 2020 Description Current Fee Adjusted Fee Exemplification $22 $23 Reproduction of audio recording of court proceeding $31 $32 Filing amendment to debtor's schedules $31 $32 Search fee $31 $32 Filing any document that is not related to...
Members
October 6, 2019
By Jan Hamilton, Chapter 13 Standing Trustee (Topeka, KS) Click here for Part One Click here for Part Two What needs to be in a plan filed in a case under the SBRA? Start with the statute…1 A. Contents of Plan2 Comparison of “Contents . . . It looks like you are not signed in or registered! This content is...
Members
Mark
April 17, 2022
Mark Leffler, of the Boleman Law Firm in Virginia and also the current President of the Academy for Consumer Bankruptcy Education, begins a series of articles describing his firm’s development of a broader practice on behalf of consumer debtors. Look for subsequent parts of this series over the next few weeks. My fellow self-described consumer bankruptcy lawyers: you wield more...
Members
September 8, 2019
By Cathy Moran, Esq. (Redwood City, CA) The Federal Reserve reported that 40% of Americans couldn’t meet a $400 emergency without borrowing. A significant slice of them couldn’t pay it at all. So, a Bloomberg economist devoted his column to deconstructing how the press and political figures, in his opinion, misused that finding. OMGoodness. The guy was too caught up...

Looking to Become a Member?

ConsiderChapter13.org offers a forum to advance continuing education of consumer bankruptcy via access to insightful articles, informative webinars, and the latest industry news. Join now to benefit from expert resources and stay informed.

Webinars

These informative sessions are led by industry experts and cover a range of consumer bankruptcy topics.

Member Articles

Written by industry experts, these articles provide in-depth analysis and practical guidance on consumer bankruptcy topics.

Industry News

The Academy is the go-to source for the latest news and analysis in the Chapter 13 bankruptcy industry.

To get started, please let us know which of these best fits your current position: