WASHINGTON — The IRS released its newly-revised tax guide for service members. It is designed to help members of the military understand the many special tax benefits available to them under the law.
Publication 3, Armed Forces' Tax Guide has all kinds of useful filing tips.
The free publication describes the provision allowing armed forces reservists to deduct their reservist-related travel expenses, regardless of whether they itemize their deductions. It also describes the moving expense deduction still available to active-duty members of the military in connection with a change of station.
The publication covers the special benefits available to those serving in a combat zone, including the full or partial exclusion of combat pay and special rules for determining IRA contribution limits. There are also special rules for figuring the Earned Income Tax Credit for low-to-moderate income workers and families.
There are also extended deadlines available for filing returns, paying taxes and claiming refunds.
To view or download this free publication, visit IRS.gov/pub3.
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