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First Command Publicizes Combat Zone IRA Rule

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A firm that sells financial services to military personnel is trying to publicize a change in the rules governing individual retirement accounts for individuals serving in combat zones.

In the past, military personnel serving in combat zones could avoid paying income taxes, but they could not contribute to IRAs.

Now, a new federal law will let military personnel in combat zones contribute to IRAs for the current year, and it also has created an opportunity for individuals who were in combat zones in 2004 or 2005 to make IRA contributions for those years, according to First Command, Fort Worth, Texas.


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