Advocating for Your Uniformed Client - Military Tax Issues

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Target Audience:  CPAs, EAs, Annual Filing Season Program Participants
Field of Study: Taxation (NASBA); Federal Tax/Tax Related Matters (IRS)

IMPORTANT INFORMATION REGARDING CONTINUING EDUCATION CREDIT: THE IRS ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING EDUCATION CREDIT FOR ENROLLED AGENTS (EA) AND ANNUAL FILING SEASON PROGRAM (AFSP) PARTICIPANTS. Others, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT. 

Note: the credit received from this seminar qualifies as continuing education that is required to obtain the voluntary AFSP – record of completion. however, this website does not offer the AFSP annual federal tax refresher (AFTR) course.'

IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG

DISCLAIMER: THIS SEMINAR WAS FILMED AT NATIONAL HARBOR, MARYLAND, ON JULY 18, 2018, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.

The IRS Taxpayer Advocate Division presented this seminar at the 2018 IRS Nationwide Tax Forum.

There are about 1.3 million active duty service members and over 800,000 Reserves and National Guard personnel in the United States. Tax issues pertaining to the military are complex and very few military tax experts outside the IRS are available to assist the tens of thousands of active and reserve military taxpayers with preparing returns and other tax issues.

This presentation will provide a general overview of the military tax issues, including extensions of tax filing deadlines, especially for those serving overseas; combat zone income exclusions; tax abatement for service members who die in combat zones or qualified hazardous duty areas; individual retirement account (IRA) contributions from tax-free combat pay; tax return signature authority without a power of attorney; unique capital gains exclusions for service members who sell their homes; deductions for relocation expenses, travel expenses for reservists, and military uniforms; waivers for early withdrawals from IRAs; rules pertaining to the choice of service members to include their nontaxable combat pay as earned income for purposes of Earned Income Tax Credit; and refund claims under the Combat-Veterans Tax Fairness Act of 2016. 

By the end of this presentation, you will be able to:

• Determine potential issues to Military clients
• Identify when a client is impacted by a military tax issue
• Differentiate between a regular extension of time to file and an extension of time to file for service members over seas
• List types of income that are excludable under Excludable Combat Pay Income Exclusion

No prerequisites or advanced preparation are required for this seminar.

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