New Resource Packet: January 2020 Tax Time Savings

Tax season is upon us. While most people dread gathering their documents and filling out tax forms, there’s no denying that tax time is a great time to kickstart a savings account or pay down debt.

In this resource packet, we share tax tips, resources for FREE tax filing, and tax scams to avoid.

Social Media Posts:

Post 1:

There are lots of scams and myths during #tax season. Here are 5 Things the IRS Will Never Do via @MilitarySaves:

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Download "Things The IRS Will Never Do" doc

Post #2

Expecting a #taxrefund? Make sure you have a plan for it! We love this tip from @MilitarySaves: SPLIT YOUR REFUND.

  • 30% for past expenses
  • 40% for present-day needs or wants
  • 30% into #savings for the future
  • #MilitarySaves

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Post #3

#Military: Check out these Tips to Save Money AND Heartache This Tax Season from @MilitarySaves because we know how frustrating #tax time can be!

Military Saves Resources:

Tips to Save Money AND Heartache This Tax Season: Filing income tax forms can be a complicated and somewhat painful process. Gathering documents is a chore. Tax forms can seem confusing to the uninitiated. Here are some important tips to keep in mind for this tax season.

Tips To Prepare You For Your Tax Preparation Appointment: Sometimes preparing for your tax appointment can be the most daunting part of filing a tax return. We’re here to help. Use this checklist for a seamless tax preparation appointment.

Things The IRS Will Never Do: Each tax season, Americans are bombarded with numerous IRS scams and fraudulent schemes. There are lots of myths and urban legends floating around social media and the internet.

Split It! Have a Plan for Your Refund: Have a plan in mind when you file your taxes. If you’re due a refund, go ahead and split it up into multiple accounts (think checking, saving, and retirement or college saving account) using the 30-40-30 plan.

Free Ways To File Your Taxes: Did you know there are ways to file your taxes for FREE? No strings attached. Free tax preparation is an easy way to save lots of cash during tax season.


Other Resources:

Military OneSource MilTax

Armed Forces Tax Guide, IRS Publication 3

VITA site locator tool

AARP Tax-Aide Site Locator

CFPB - Fraud and Tax Scams



Sign up for Military Saves Month, now in April 2020

From the Archives:

New Tax Legislations Puts More Money Into the Pockets of Many Military Families

5 Tax Tips for Service Members and their Families

Tax Time Savings Bonds

3 Reasons Not to Consider a Big Tax Refund as Extra Money

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Involving Kids in Family Finances

Written by | April 19, 2019


One of the best lessons we can share with our kids is about money. By middle school, kids should have a good understanding of how money works as well as the importance of saving.


Setting a Goal Leads to Success

Written by Super User | May 24, 2019

Growing up, Marisa’s dad had always talked about saving first, but she said she didn’t really internalize it until much later. “I was drifting along with no plan, carrying a little bit of revolving debt, saving some money here and there, but without a real plan for it.”


How Smart Financial Decisions Can Create Opportunities 

Written by Stephen Ross, America Saves Program Coordinator | November 22, 2019

Of the many stories Military Saves shares, most describe how someone was in dire straits financially and worked their way out of it with the help of Military Saves. This time we want to highlight a different kind of story. This is a story about how responsible financial decisions can build on one another to create opportunities you thought only the super-rich enjoy.