Today TaxMama® hears from Joe in the TaxQuips Forum. Joe has just returned from 30 years of service in the armed forces. He hasn’t lived in his home for most of that time, so it doesn’t qualify for the personal residence exclusion. Now it’s time to sell. And Joe has a few questions about the […]
Tag Archives: U.S. 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 […]
If you own a foreign bank account, brokerage account, mutual fund, unit trust, or other financial account, then you may be required to report the account yearly to the Internal Revenue Service. Under the Bank Secrecy Act, each United States person must file a Report of Foreign Bank and Financial Accounts (FBAR), if The person […]
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?https://www.natas.co.uk/dev/wp-content/languages/new/i-need-help-writing-an-essay.html 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 […]