Pay & Benefits
IRS Launches New Withholding Calculator
The IRS recently updated its Withholding Calculator to help taxpayers determine their proper amount of withholdings under the new tax law.
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.
Agency News
IRS Still Giving Bonuses to Employees with Tax Compliance and Conduct Problems
A new IG report finds that despite some improvements, the IRS is still paying bonuses to employees with tax compliance and workplace conduct issues.
Pay & Benefits
A Chained CPI and Federal Employee Retirement COLAs
The chained CPI has been incorporated into the federal tax system. What does this mean, and will it have an impact on the COLA calculations for federal retirees?
Agency News
Mnuchin: 90% of Wage Earners Will See Higher Paychecks Under New Withholding Tables
The IRS has released new tax withholding tables, and many employees should start seeing higher paychecks by February according to the Treasury Department.
Agency News
Lawmakers Worried Treasury Department Will Use New Tax Tables for Political Gain
Two lawmakers are worried that the Treasury Department will "unduly influence" tax withholding tables to skew the apparent benefits of the new tax law.
Pay & Benefits
Hatch Drops Catch-Up Contributions Amendment from Senate Tax Bill
An amendment to the Senate's tax reform bill that had the potential to impact federal employees who invest in the TSP has been taken off the table.
Pay & Benefits
Proposed Amendment Would Eliminate Current TSP Catch Up Contributions
A proposed amendment to the Senate's tax reform bill would eliminate current retirement savings catch-up contributions.
Pay & Benefits
Senate Unveils Tax Proposal; House Tax Bill Advances
Senate Republicans unveiled their version of a tax reform bill as the House advanced its tax reform plan.
Pay & Benefits
No Changes to 401(k) Contributions in Republican Tax Plan
Republicans have unveiled their tax cut proposal, one which consolidates individual income tax brackets and leaves retirement plan contribution limits untouched.
Retirement
Double Taxation of Social Security
The author says that what he describes as double taxation of Social Security benefits is unfair, but Congress has little option to address the situation.