Senators Still Concerned About Unexpected Tax Bills for Some Federal Employees
Two Senators are again pressing the GSA to do more to help some federal employees who could potentially face an unexpected tax bill.
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.
Taxpayers Have a New Guide to the Tax Law Changes
The Tax Cuts and Jobs Act modified tax rules starting in 2018. This new guide from the IRS alerts individual taxpayers to important changes.
2019 Contribution Limits Announced for the TSP
The IRS has announced the 2019 contribution limits for the TSP and IRAs. How much extra will you be able to save?
Should Federal Employees Pay Off Their Homes?
Should you pay off your home mortgage? The author discusses some pros and cons to consider in weighing the decision.
Roth Re-Characterization Deadline Fast Approaching
Have you re-characterized a Roth IRA? This October has an important deadline for taxpayers using this technique.
IRS Wants to Help (Seriously)
The tax law has changed and readers may be having too much or too little withheld. The IRS wants to help.
IRS Changing Format of Tax Transcripts
The IRS announced it is changing the format of tax transcripts in an effort to protect taxpayers’ personal data.
IRS Encourages Taxpayers to Do a ‘Paycheck Checkup’
The IRS is advising taxpayers to verify their paycheck withholding amounts to ensure they don’t end up with a big refund next year.
How Much is $100 Worth in Your State?
A new report shows the spending power of $100 in each of the 50 states.
Taxes Are Temporarily ‘On Sale’ – Are You Taking Advantage?
With federal spending rising, future individual tax rates are expected to be higher. The author describes options for offsetting this potential tax burden.
