Federal Workforce News
5 Strategies to Reduce Your 2020 Tax Bill
Want to reduce your 2020 taxes? These are a few last minute strategies that can help.
Taxes
Stay informed on tax rules and implications affecting federal employees and retirees, including guidance on taxes for FERS and CSRS annuities, Social Security taxation, TSP withdrawals, and retirement income planning. Explore updates on IRS regulations, withholding rules, state tax considerations, and policy changes that influence how federal retirement benefits are taxed. Find clear explanations and practical insights to help federal employees understand how different income sources are treated and how tax changes may impact their financial planning.
Retirement
Welcome Back RMDs. We’ve Missed You!
RMDs were suspended in 2020 under the CARES Act, but we now go back to normal RMD rules in 2021.
Human Resources
Legislation Reintroduced to Target Tax Delinquent Federal Employees
Another legislative effort is being made to target federal employees with seriously delinquent tax debts.
Pay & Benefits
2021 Tax Planning Checklist
These are some important considerations in doing tax planning for 2021.
Retirement
The Top Retirement Mistakes Federal Employees Made in 2020
The author outlines the top retirement planning mistakes he observed federal employees make in 2020.
Retirement
How Much of Your FERS Pension Will the Government Take in Retirement?
Is your FERS pension taxable? As the author explains, federal employees could wind up with a smaller monthly income in retirement than they were expecting.
Retirement
Common Retirement Myths Exposed
These are three common retirement myths that federal employees need to be aware of.
Federal Workforce News
President Biden’s Pen and What It Means for You
A number of new regulations have been issued since President Biden took office. The author summarizes some of the key changes.
Pay & Benefits
Are There Times You Shouldn’t Use the Roth TSP?
What are the scenarios under which federal employees should and should not use the Roth TSP? Here are some considerations.
Federal Workforce News
Is It Time to Tax Telework?
Telework has grown sharply during the pandemic, and a tax on remote workers has been pitched as a way to level the workforce playing field.