Quick Tax Facts for the Military Community

January 31, 2011

April is soon coming, and with that—tax season! This may very well be one of the least-favorite times of year for Americans. Tax laws can be overwhelming, confusing, and tedious, but there are a few quick facts that the Military Community should know:

–You may claim first-time homebuyer credit if you (or your spouse) are on official extended duty outside the United States for at least 90 days after 2008 and before May 1,2010. The home, however, must be bought before May 1, 2011.

–Normally, joint tax returns must be signed by both spouses. If one spouse is deployed at the time the joint return is due, there are ways for the other spouse to sign on his/her behalf.

–If you are serving in a combat zone, contingency operation, or are hospitalized because you were hurt in one of these, you qualify for an extension in filing your return. Your extension can be up to 180 days after leaving the combat zone or contingency operation.

–Within the United States, if a servicemember moves to a different state due to military service, he/she will not be taxed by multiple states/jurisdictions. This is due to the Servicemembers’ Civil Relief Act.

–His/her non-military spouse’s income will also not be double-taxed, thanks to the Military Spouses Residence Relief Act of 2009.

For those in the United States, you may visit the H&R Block on your local Exchange for more information, help, and a special offer on tax preparation.

For everyone else, please visit http://www.hrblock.com/military/.

Leave a Comment

{ 0 comments… add one now }

Previous post:

Next post: