H&R Block offered free filing for service members this year, so I did my taxes the other day. I was surprised -- my return was bigger than I expected.
There are a couple reasons for this.
First, there are the amounts that I knew I was going to get -- the child tax credits, a couple hundred from my December paycheck, and the 15% that was withheld from my third and final Student Loan Repayment.
What I didn't realize was that I also qualified for the Earned Income Credit.
Having excluded the combat pay I earned from January to November, my only earned income came from December and the SLRP. Serendipitously, it was enough to get almost the maximum EIC while falling below the standard deduction amounts. Zero tax liability; interesting refund. Thank you, H&R Block and strange tax code.
If you're in the military, I highly recommend filing online. Had I not, I would definitely have missed out on this one.
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