Tax preparation for the service member is often more complex than that of a civilian because of the implications of deployments, combat and training pay, housing and rentals, and multi-state filing. Major life changes like death or starting college also affect income and assets. Understand how special circumstances determine your taxes.
When major changes happen that affect your income or your assets — such as the death of a family member or the pending start of college — the last thing you want to consider is taxes.
Better than any other tax service available, MilTax, Military OneSource tax services, understands what military life means in regard to taxes and offers free consultations and quick, accurate and flexible electronic filing options to eligible service members.
If you are filing taxes on behalf of yourself or a family member with special needs, you may be eligible for certain tax breaks.
As a service member, the tax implications of combat pay, deployment or multiple moves can be daunting. This tax season you may also have questions related to the COVID-19 pandemic and federal relief efforts. Military OneSource MilTax services – designed specifically for the MilLife – can make tax time easier ‒ and help maximize your tax refund.
Many military spouses – and even some service members – have started a business or side job in today’s gig economy. Being your own employer means responsibility for additional taxes and tax reporting.
Many military families end up owning rental properties, which can bring special tax challenges. Here’s what you need to know to understand the potential tax impact of your rental property.
T-A-X-E-S. It’s that time of the year again, and if there’s good news to be had, it’s that you have access to special assistance as a member of the military community in getting your taxes in order.
Service members and military families — here’s a benefit that helps you master your taxes. Free, easy-to-use MilTax software and support services can make quick work of tax time.
Deployed service members are expected to file their taxes. Fortunately, the Internal Revenue Service realizes service members and their families face unique circumstances and offers tools — and some special extensions — to make tax filing easier.
Take advantage of tax savings if you are pursuing higher education. If you are a student or parent with an eye toward maximizing your tax deductions, make sure to connect with MilTax , Military OneSource tax services.
Moving from place to place requires a lot of effort and changes. Two laws make it easier for military spouses regarding their residency, voting and state taxes.
As part of the American Rescue Plan, eligible parents may receive monthly payments of their child tax credit 2021 throughout the year.
If you can’t file your federal tax return by this year’s deadline, then consider filing for an extension. Doing so is more common than you may think.
The coronavirus disease 2019 pandemic led to some temporary changes in tax laws. These come on the heels of major tax reform – the Tax Cuts and Jobs Act. Learn how you can take steps now to maximize your benefits and protect against an unexpected tax bill or penalty next year.
Great strides have been made on behalf of the lesbian, gay and bisexual community. The following information will help you understand the benefits and protections for lesbian and gay service members.
Planning to separate or retire from the military one day? You may be able to place your eligible family member with special needs on a Medicaid waiver wait list now.
MilTax preparation and e-filing software is available mid-January through mid-October. Powered by an industry-leading tax service provider, it’s designed to address situations specific to the military. This easy-to-use, self-paced tax software walks you through a series of questions to help you complete and electronically file your federal return and up to three state tax forms. Calculations are 100% accurate – guaranteed by the software provider.