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Veterans will see a bit more cash in their retiree, VA andSocial Security checks come 2020, and the IRS wants to remind themthat veterans may also qualify for some tax benefitsthat may have escaped their notice.

Military.com reports that military retirees, recipients of disability orother benefits from the Department of Veterans Affairs, federalretirees and Social Security recipients will all see a 1.6 percentincrease in 2020's monthly checks.

While last year recipients got 2.8 percent, the report pointsout that the 2020 cost of living increase is " in line with thehistorical increases seen over the last ten years."

While the average military retirement check for an E-7 with 20years of service will increase by $38 a month, and a 20-year O-5will see a $72 monthly increase, retirees who joined up on or afterAugust 1, 1986 and opted in for the Career Status Bonus (CSB/Reduxretirement plan) will see their COLA increases reduced by 1percent, so they will see a smaller increase in 2020.

The IRS, for its part, says that tax benefits unique to militaryservice might be overlooked. Among them is the combat payexclusion, which comes with a choice; including combat pay inearned income by a servicemember claiming the Earned Income TaxCredit could result in a lower amount of tax owed and thus a largerrefund.

Additional particulars:

• Military also get extended deadlines for combat zones andcontingency operations
• They can deduct overnight travel expenses (handy for reservistswho must stay overnight away from home while serving)
• Tax deductibility of unreimbursed moving expenses for PCS(permanent change of station)
• Potential tax benefits on sale of a primary residence if allconditions are met
• The exclusion of dependent care assistance programs fromservicemembers' income
• A possible tax benefit on payments from a Qualified TuitionProgram or Coverdell Education Savings Account that are not usedfor educational expenses for military academy attendees

The IRS will also provide free tax help to members of themilitary and their families.

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