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Memorial Day thanks

May 25, 2009

Placing flags Arlington National Cemetery Memorial Day originated just after the Civil War as Decoration Day. It was created as a way to remember those who had fallen in those divisive battles.

Today it is a federal holiday held on the fourth Monday in May. And when the name was changed, the day's commemoration was expanded. It now is a time to recognize the sacrifices of all U.S. military members.

To those who have given their all for all of us, thank you on this Memorial Day and every day.

Photo by Adam Skoczylas,
www.Army.mil (Flickr/Creative Commons)

Military tax treatment: Our tax code also recognizes the special concerns of military personnel.

IRS staff discuss in this MP3 podcast some service-specific tax issues, such as military VITA sites. These volunteer tax preparation programs offer military men and women help,
for example, in complying with combat pay considerations and filing
extensions.

Military.com provides more information on the combat pay exclusion.

This Bankrate.com story offers an overview of the major military tax laws, such as filing deadlines, treatment of combat pay, special rules for computation of the Earned Income Tax Credit (EITC) or determining how much to put into a retirement account and tax breaks for military homeowners who are forced to sell because of redeployment.

Many of these same tax topics also are covered in this Military Money article.

The IRS also maintains a special Web page that covers a wide array of tax concerns for members of the armed forces.

You also can find additional general information in IRS Publication 3, Armed Forces' Tax Guide.

Don't forget that some state tax provisions apply to active duty service personnel and veterans. Military.com maintains a Web page that lists state tax department info and notes any specific tax laws regarding military earnings and retirement income.

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Credits/Deductions
Disasters
Family
Filing and Paying Taxes
Politics/Laws
Refunds
State Taxes
Tax Brackets/Inflation
Tax Tips
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