American Military News Publishes Doug Andre's Article on Tax Changes That May Impact Military Families
PDFDoug Andre's piece entitled "Military Families May Be Affected by New Tax Changes – Here’s How" was published by American Military News this week. Doug reviews several issues which could affect military families and others serving overseas. One issue he covers is the recent USCIS policy update effective October 29, 2019, that changes procedures for families to obtain citizenship for children born outside of the U.S. (necessary for claiming the child tax credit).
Doug also discusses the drafting error in TCJA that subjects the survivors' benefits paid to military families to a tax rate of up to 37%, the need to file Report of Foreign Bank and Financial Accounts in certain instances when earning income overseas, and other tax issues military families and government service members should keep in mind when completing U.S. tax returns.