rapidfire
T Free Tax Prep MilLife Connection
ax season is around the cor- ner. Servicemembers and their families typically face specific
or special circumstances when filing taxes. However, Military OneSource pro- vides several free tax-preparation resources, including tax-preparation software and access to professional tax consultants, for active duty service- members, members of the Guard and Reserve, spouses, dependent children, and surviving spouses. Military OneSource tax-preparation and filing software is self-paced and takes you through a number of questions to assist in completing your tax return. The software will be available through mid-October. The tax software allows
you to: Q complete and electronically file federal forms and up to three state tax forms;
Q check your electronic filing status; and Q receive assistance if you are audited.
Military OneSource guarantees 100-percent accurate calculations or the software vendor will reimburse you up
Family Matters
to $10,000 (see
militaryonesource.mil for terms and conditions). To ensure you and your family are making informed decisions regarding your taxes, the website provides tax
consultants who will assist with: Q sharing information on tax requirements and other military-relat- ed issues;
Q identifying tax regulations; Q providing printed and electronic tax
forms and helping you understand how to complete them;
Q reviewing your refund options; Q accessing the Military OneSource
free tax-preparation and filing software; and
Q answering any tax-related questions while preparing your tax returns. Military OneSource tax consultants cannot answer specific questions related to trusts, LLCs, or other tax shelter options; provide personal advice; or file your taxes on your behalf. To speak with a Military OneSource tax consultant, call (800) 342-9647. — C.C. Gallagher
Military Saves
partners with defense credit unions, military banks, FINRA Investor Education Foundation, and other nonprofit organizations to pro- mote saving money. The campaign
encourages all servicemembers and their families and civilian employees to take the Military Saves Pledge during Military Saves Week, which will take place Feb. 27–March 4. For more infor- mation, visit mili
tarysaves.org.
read more: See “Tax Traps,” page 58, to learn how to avoid four common pitfalls. 20 MILITARY OFFICER FEBRUARY 2017
Discover helpful resources for military spouses and children.
Military Saves, a component of the nonprofit America Saves and a partner in DoD’s financial readi- ness campaign, seeks to motivate, support, and encourage military families to save money, reduce debt, and build wealth.
IMAGES: LEFT, SHUTTERSTOCK; ABOVE, MILITARY SAVES
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