Tax Relief - Individuals Serving Their Country
A large number of taxpayers hurry to finish paying their taxes as the deadline approaches.
The Post Office gets ready for the sea of people and last minute tax filers.
You can relax if you are part of the armed forces; there is more time for you.
It is very important to spend more time on tax returns or else you might miss out on some useful new tax relief measures for individuals serving in the country.
There was a new act created for military staff called The Military Family Tax Relief Act, which has numerous new deductions and tax relief options for military personnel.
There have been previous tax incentives, but they went unnoticed.
These new tax relief provisions are meant to lighten the tax burden of those in the military.
People who are serving in the military outside the U.
S.
, meaning that they are not in the country, have more time to file their tax returns.
To obtain this benefit, taxpayers are requested to write "Military Service Outside the U.
S.
" on the return.
This will also include joint returns and this advantage may go unnoticed by taxpayers whose spouses are serving outside the US.
In the case that you owe tax, interest will add up after the original filing date until you pay the taxes owed.
The benefit is also there for military personnel hospitalized outside of the U.
S.
because of combat wounds.
If you serve in the National Guard or are a member of the Reserves, you will also be entitled to tax relief.
The Military Family Tax Relief Act permits you to take an above-the-line deduction.
This means that you will not have to itemize the money spent on commuting to drills and additional service-related activities.
The Post Office gets ready for the sea of people and last minute tax filers.
You can relax if you are part of the armed forces; there is more time for you.
It is very important to spend more time on tax returns or else you might miss out on some useful new tax relief measures for individuals serving in the country.
There was a new act created for military staff called The Military Family Tax Relief Act, which has numerous new deductions and tax relief options for military personnel.
There have been previous tax incentives, but they went unnoticed.
These new tax relief provisions are meant to lighten the tax burden of those in the military.
People who are serving in the military outside the U.
S.
, meaning that they are not in the country, have more time to file their tax returns.
To obtain this benefit, taxpayers are requested to write "Military Service Outside the U.
S.
" on the return.
This will also include joint returns and this advantage may go unnoticed by taxpayers whose spouses are serving outside the US.
In the case that you owe tax, interest will add up after the original filing date until you pay the taxes owed.
The benefit is also there for military personnel hospitalized outside of the U.
S.
because of combat wounds.
If you serve in the National Guard or are a member of the Reserves, you will also be entitled to tax relief.
The Military Family Tax Relief Act permits you to take an above-the-line deduction.
This means that you will not have to itemize the money spent on commuting to drills and additional service-related activities.
Source...