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Taxes Information |
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Military Reservists, Enlistees May Get Deferral of Back Taxes
Reservists called to active duty and enlistees in the armed forces may qualify for a deferral of taxes owed if they can show that their ability to pay taxes was affected by their military service. The deferral covers active duty members of the military services - Army, Navy, Air Force, Marine Corps and Coast Guard - and commissioned officers of the uniformed services - Public Health Service and the National Oceanic and Atmospheric Administration. Reservists must be placed on active duty to qualify. National Guard personnel not serving in a "federalized" status - that is, called to active duty specifically by the president of the United States - are not covered. The deferral applies to taxes that fall due before or during military service, and extends the payment deadline to six months (180 days) after the military service ends. No interest or penalty accrues during the deferral period. The deferral is not automatic. A taxpayer must apply for it. When applying, the taxpayer must show how the military service affected the taxpayer's ability to pay. A taxpayer must also have received a notice of tax due, or have an installment agreement with the IRS, before applying for the deferral. The deferral does not extend the deadline for filing any tax returns. However, taxpayers in the armed forces may get extra time to file under other provisions, such as being stationed overseas, in a combat zone or in a qualified hazardous duty area, or if they are serving in direct support of a combat zone. Combat Areas The following areas of have been designated as combat areas. 1. Afghanistan and the airspace above was designated a combat zone effective Sept. 19, 2001. 2. The Federal Republic of Yugoslavia (Serbia/Montenegro) 3. Albania 4. Bosnia and Herzegovina 5. Croatia 6. Macedonia 7. The Adriatic Sea 8. The Ionian Sea - north of the 39th parallel 9. The Persian Gulf 10. The Red Sea 11. The Gulf of Oman 12. The part of the Arabian Sea that is north of 10 degrees north latitude and west of 68 degrees east longitude 13. The Gulf of Aden 14. The total land areas of Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates 15. Incerlik Air Base in Turkey 16. Pakistan, Tajikistan and Jordan 17. Uzbekistan and Kyrgyzstan 18. The Philippines 19. Yemen 20. Djibouti While deferring back taxes is a helpful notion, a better method would be simply to waive all taxes on military personnel. Richard Chapo is CEO of http://www.businesstaxrecovery.com - Obtaining tax refunds for small businesses by finding overlooked tax deductions and credits through a free tax return review.
MORE RESOURCES: Those who oppose higher taxes and are fed up with record levels of U.S. debt may pine for Ronald Reagan, the patron saint of lower taxes and smaller government. WASHINGTON — Raising taxes on the wealthiest Americans, as President Barack Obama proposes to do, probably wouldn't wreck the moribund U.S. economy, but extending the tax cuts they've enjoyed since 2001 could spur some economic benefit. Taxes go downSeveral letters have complained about property tax increases. However, we are having the opposite experience: Our home's assessed value decreased by about 30 percent, and our taxes will come down almost 20 percent if no budget change is adopted, and 30 percent if the proposed change is adopted. School taxes go up for Palm Beach County residents despite cuts to budget The average area homeowner could pay $127 more in school taxes this year if the Oshkosh Board of Education raises local property taxes to the maximum allowed by the state the school board is expected to discuss its options tonight, but take no official action. DECATUR - Raising taxes is the only way out of the state budgetcrisis, and members of the General Assembly know it. ANALYSIS-Transaction taxes, liquidity and patience A combination of high foreclosures and rising property taxes put the squeeze on homeowners... and local governments. Contributor: David W. Thornton Published: Sep 07, 2010 Levying property taxes to affect housing prices is not the best option given other countries' experiences, according to a researcher from the People's Bank of China. LANCASTER -- The former home of a local hardware store will be on the auction block Friday, paving the way for government officials to collect $88,530 in back taxes. |
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