The US government and all its citizens recognize veterans on Memorial Day. The other 364 days of the year, the IRS at the direction of the Congress has multiple special cases for Veterans, people currently serving in the military and disabled veterans.
Members of the US Forces, especially those serving in combat zones, get a number of special tax considerations. First, Military personnel serve in all the major branches of the military including the US Coast Guard. The Red Cross and US Merchant Marines are not considered military personnel by the IRS even if they are supporting the military. The most commonly used provision is a tax extension if serving in combat zones. But there is also a special first time home owners tax credit, economic stimulus payments for family members of those serving, additional tax breaks and several other special cases which may be retroactive and require an amended tax return.
Ongoing, most military personnel qualify for free online tax filing, tax assistance and access to additional resources and help.
If you are unsure if you or a serving family member qualify for these special veteran and currently serving tax rulings, contact us and we can help guide you through this labyrinth. If you want to dive into this yourself, the IRS has specially dedicated web pages to support taxes and the Military.