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Practical Money Matters Radio Series

August 19, 2013
Tax Benefits for Military Families


Learn more about the many tax benefits, social services and financial assistance programs available to help military families.

Transcript

Military families face numerous financial challenges. Fortunately, many programs are available to help. Tax benefits for active duty personnel include:

  • Deductions for unreimbursed moving expenses.
  • Military pay while serving in a combat zone is tax-free.
  • Deadlines for filing tax returns, paying taxes and other actions are automatically extended for qualifying military members.
  • Reserve members can deduct certain travel expenses to perform their duties.
  • Most military installations offer free tax filing and preparation assistance.

The IRS's Armed Forces' Tax Guide at IRS.gov provides an excellent summary of military-related tax topics. Bottom line: You've served your country; now let your country serve you.


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