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IRS Notifies Military Personnel of Favorable Tax Law Changes

December 11, 2003 The IRS has advised military personnel that they are now eligible for increased income exclusion for death benefit payments. The Service noted that the changes are retroactive to September 11, 2001 and that amended returns may be filed. Eligible individuals are asked to put the words “Military Family Tax Relief Act” in RED at the top of the amended returns to speed processing. A link to the IRS web site (IRS.gov) for amended returns and copies of past year returns are provided. NFDA members may wish to advise their military families whom they have served since September 11, 2001 and whose loved one died on active duty about this mailing. This includes Reservists and National Guard members who have been mobilized for active duty. The death gratuity also applies to those who die within 120 days after being medically released from active duty for an injury or illness suffered while on active duty. Click here for more information about the Military Family Tax Relief Act.