Military Finance Network

I was doing some reading online last night and I read something that alarmed me: There are over 5 million unclaimed economic stimulus checks currently held by the IRS. A large percentage of those are held by military veterans whose primary source of income is VA benefits or Social Security checks.
But there is a problem… [...]

With tax season coming to an end last week, the next big thing is the economic stimulus rebate which the government approved earlier this year. With that in mind, here is some information about the economic stimulus package, and how it will affect military members.Keep in mind, this information is gathered primarily from the IRS [...]

Today is tax day, and millions of last minute tax filers (myself included!) will be streaming by the post office today to send their taxes to the IRS. But what happens if you missed the deadline? The good news is that you can file an extension. That bad news is that if you owe the [...]

Many members of the U.S. Armed Forces who serve(d) in a combat zones are able to exclude portions of their pay from their taxable income. You will also be eligible for additional time to make a qualified contribution to an IRA, and be able to file an extension to complete your taxes without paying [...]

Tax season is drawing to an end, and you’ve only got about 2 weeks to complete your taxes before the end of the year. Fortunately, there are several places that provide free tax preparation for military members. If you are looking to do your own taxes, it helps to know which pay and benefits are [...]

Tax season is drawing to an end, and you’ve only got about 2 weeks to complete your taxes before the end of the year. Fortunately, there are several places that provide free tax preparation for military members. If you are looking to do your own taxes, it helps to understand how the military pay system [...]

There is great news for the military community. There are several options for military personnel to file their 2007 taxes for free. Most major military installations have a Volunteer Income Tax Assistance (VITA) office. Marines, Airmen, Soldiers, Sailors, Reserve members, Guardsmen, and their families worldwide are eligible to receive free tax preparation assistance at [...]

Tax season is officially upon us all! DFAS recently announced that W2’s are available in MyPay for military members. DFAS customers with myPay access will be able to retrieve their tax statements electronically up to two weeks sooner than those relying on regular mail delivery. Internal Revenue Service (IRS) forms W-2s, 1099Rs and 1099-INTs, along [...]

Congratulations to all military retirees in the State of Ohio! Veterans who receive military pensions no longer will have state income taxes taken from their monthly retirement checks.
On 20 Dec 2007, Ohio Governor Ted Strickland signed legislation that exempts military pensions from state income tax. House Bill 372 allows tax exemption of military retirement pay, along [...]