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While it may seem unlikely for the United States to go to war in the near future, it may happen again once the economy is back on its feet. As it is, military pay is considered taxable income. But there are actually a number of benefits available to military personnel serving in a combat zone. However, these vary according to whether the person is a commissioned officer or a non-commissioned office (enlisted soldier).

Here are some of the benefits of military personnel:

1. Combat pay and hostile fire pay

If you are an enlisted personnel or non-officer serving in a combat zone, you can exclude from your gross income any pay you receive erstwhile serving in a combat zone. The exclusion applies to one whole month, even if you were at the combat zone for only one day. This exclusion also applies if you were hospitalized because of an injury or disease while in the combat zone.

On the other hand, commissioned officers can exclude from their gross income the maximum amount enlisted personnel would be paid at the highest pay grade plus any hazard duty pay or hostile fire pay.

Subsistence allowances and quarter’s allowances are also excluded, whether you are in combat zone or not.

2. Housing interest deduction

If you have a first or second home, you can deduct the interest and taxes that you pay on them.

3. All IRS examinations and collections are suspended

This suspension of IRS examinations and collections extend during the time when you are hospitalized due to injuries or illnesses incurred in battle.

4. Joint filing for missing personnel

When a military personnel becomes missing-in-action or becomes prisoner of war, his or her spouse can elect to file a joint tax return for each year until two years after the end of war in that combat zone.

Find more helpful IRS tax information on http://www.irstaxlawyers.org.

Article Source: http://EzineArticles.com/?expert=Chris_Keenard
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