Tag Archives: Military

No Repayment Needed

Today TaxMama® hears from Dave in the TaxQuips Forum, with an excellent question  (let me summarize).  “His friend’s daughter bought a home in 2008 subject to the First Time Homebuyer Credit repayment. During 2011, she was deployed to Iraq for 11 months. Can she file an amended return and have the entire balance of her repayment […]

Cannot Get Refund

    Today TaxMama hears from Geoff in the TaxQuips Forum who is frustrated. To make a long story short (you can read the long story here), Geoff didn’t file his tax return on time because he couldn’t afford to pay for the preparation fees. When he filed, more than three years later, IRS denied […]

10 Tips to Ease Tax Time for Military

Courtesy of IRS Military personnel have some unique duties, expenses and transitions. Some special tax benefits may apply when moving to a new base, traveling to a duty station, returning from active duty and more. These tips may put military members a bit “at ease” when it comes to their taxes. Moving Expenses If you […]

Military Homebuyers Credit

Today TaxMama hears from Gloria in the TaxQuips Forum who needs clarification. She says “Military members have almost two more years to use the $8,000 tax rebate. They must have been stationed or deployed overseas for 90 days during 2009 (approximately). My question is whether the 90 days must be consecutive, or whether several short […]

Military spouse’s income might be tax-exempt

Courtesy of Spidell (paraphrased a bit for national coverage) As a result of the Military Spouses Residency Relief Act (PL 111-97), beginning with the 2009 taxable year, states may not tax wage and personal service income of a military spouse if the spouse has the same domicile or residence as the servicemember and: · The […]

Military COBRA

Today we hear from Liz in Georgia who asks, “Is it true that the U.S. Military does not have to follow the 36 month COBRA rules in a divorce? My brother in law tells me that when his divorce is final, his wife will not get COBRA for 36 months – that her benefits will […]

Military Tax Relief Bill

Courtesy of NAEA Finance Members Introduce Military Tax Relief Bill Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Chuck Grassley (R-IA) this week introduced legislation that would grant significant tax breaks to members of the military, veterans, and their families. S. 1593, the Defenders of Freedom Tax Relief Act of 2007, would: Make […]