Military Tax Issues Self-Study
When working with a member of the military, there are special tax provisions that tax professionals must be aware of. This course will familiarize you with these provisions, such as income that is excludable for tax purposes as well as deductions they are entitled to. You will also identify scenarios when it would be beneficial to include their nontaxable income for the earned income tax credit (EITC) and be able to provide an overview of tax implications for military pensions and veteran’s benefits.
Upon completion of this course, you will be able to:
- Identify military pay that can be excluded from income.
- Define the different types of military pay.
- Determine adjustments available to military personnel.
- Determine if nontaxable combat pay should be included in earned income for EITC purposes.
- Recognize special provisions related to excluding gain from the sale of a principle residence or foreclosures.
- Identify and apply for forgiveness of a decedent’s tax liability.
- Determine the deadlines applicable to military personnel.
- Determine the taxation of military pensions and veteran’s benefits.
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.