Income Tax “Need to Knows” for Military Families

FCS3395/FY1537, 1/2024

Authors

DOI:

https://doi.org/10.32473/edis-fy1537-2024

Keywords:

income tax, military personnel

Abstract

This publication discusses general information about income tax terminology, general information about income tax rules, rates, and refunds, military-specific income tax challenges, military-specific income tax regulations, five income tax planning tips for military families, and income tax resources. Written by Barbara O’Neill, Martie Gillen, and Kristen Jowers, and published by the UF/IFAS Department of Family, Youth and Community Sciences, January 2024.

Author Biographies

Barbara O'Neill, Rutgers University

distinguished professor and Extension specialist emerita, Ph.D., CFP®, CRPC, AFC®, CFEd, CPFFE, Rutgers Department of Agricultural, Food, and Resource Economics

Martie Gillen, University of Florida

associate professor and specialist, family and consumer economics for older adults, UF/IFAS Department of Family, Youth and Community Sciences, Gainesville, FL

Kristen Jowers, University of Florida

social media specialist and program coordinator for OneOp, UF/IFAS Department of Family, Youth and Community Sciences, Gainesville, FL

References

College for Financial Planning. (2023). 2023 Annual Limits Relating to Financial Planning. https://static.twentyoverten.com/5d252702a03bfb38f263a72e/pTFWSI9m-g/2023-Annual-Limits.pdf

Internal Revenue Service. (2023a). Armed Forces’ Tax Guide. https://www.irs.gov/pub/irs-pdf/p3.pdf

Internal Revenue Service. (2023b). Military Family Tax Benefits. https://www.irs.gov/newsroom/military-family-tax-benefits

Internal Revenue Service. (2023c). Tax Withholding Estimator. https://www.irs.gov/individuals/tax-withholding-estimator

Intuit Turbotax. (2023). States That Don’t Tax Military Retirement. https://turbotax.intuit.com/tax-tips/military/states-that-dont-tax-military-retirement/L6oKaePdA

Military OneSource. (n.d.). MilTax: Free Software and Support. https://www.militaryonesource.mil/financial-legal/taxes/miltax-military-tax-services/

Rutgers Cooperative Extension. (2023). Tax Information. https://njaes.rutgers.edu/money/tax-info/

Basic illustration of tax withholding and its implications for paycheck amounts and tax refunds. Credit: Kristen Jowers.

Published

2024-02-07

How to Cite

O'Neill, Barbara, Martie Gillen, and Kristen Jowers. 2024. “Income Tax ‘Need to Knows’ for Military Families: FCS3395 FY1537, 1 2024”. EDIS 2024 (1). Gainesville, FL. https://doi.org/10.32473/edis-fy1537-2024.

Issue

Section

Department of Family, Youth and Community Sciences

Categories