Gather your paperwork. Tax season officially is upon us. To make preparing and filing your tax return a little easier, here are some helpful resources:
MOAA's Military Tax Guide gives you state-by-state tax information, the latest tax forms, personal income tax rates, property taxes, and other information to ensure you are making the most of your current financial situation.
Additionally, MOAA's tax calculators can help you determine your tax bill and tax rates and adjustments to make throughout the year.
If you're searching for the answer to a general tax-related question, the Internal Revenue Service (IRS) Interactive Tax Assistant is a useful tool. Find topics through the site's search feature or the listed categories.
Find more specific tax information for servicemembers in the military section of the IRS website.
For those looking for help with preparing and filing taxes, servicemembers and their families have access to discounted and free assistance services. Additional free assistance is offered to certain qualified taxpayers through the Volunteer Income Tax Assistance (VITA) program and the Tax Counseling for the Elderly (TCE) program. Learn more and find a VITA or TCE site near you.
Though the recent tax reform law won't affect your 2017 tax return, there are immediate changes that began with the start of the new year. MOAA's webinar “What You Need to Know About the Tax Cuts and Jobs Act of 2017” explains the military-specific provisions as well as the individual provisions affected by the law.
For a briefer overview of key changes, read “2018 Tax Reform and What it Means to You” and “Will the New Tax Lax Change Your Financial Behavior?”