Trump Administration Proposes Sweeping Tax Reform
The Trump administration has unveiled a tax reform plan that proposes sweeping tax cuts for both businesses and individuals.
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.
How to Cut Your Tax Bill on Your Federal Retirement Income
Most of us don’t like paying taxes, but we have to. The author provides some tips on how you can save on taxes levied on your federal retirement benefits.
Trump Directs Treasury Department to Review ‘Tax Regulatory Burdens’
President Trump signed an executive order directing the Treasury Department to review tax regulations that he says are creating an undue burden for American taxpayers.
IRS Using Private Debt Collectors for Unpaid Taxes
The IRS recently announced that it will use a small number of private collection firms for some delinquent tax debts.
Tax Preparer Went Gambling Instead of Sending the IRS Her Clients’ Tax Payments
A Mississippi tax preparer has pleaded guilty to taking her customers’ payments intended for the IRS and spending them in local casinos.
Average 2017 Tax Refund: $2,878
Are you getting a tax refund this year? Here is how it compares to the national average.
Finding the Best Places for Federal Employees to Retire
As retirement nears, you may want to consider relocating. These are some states that offer some of the better options for retirees.
How High Are Income Taxes in Your State?
A new report from the Tax Foundation provides a detailed breakdown of income taxes in each state.
Can Roth TSP Withdrawals Be Taxed?
Could funds in your Roth TSP be taxed when you withdraw them? The answer is “yes, if you are not careful.”
How Some Federal Employees Can Avoid a 10% Penalty on TSP Withdrawals
Certain categories of federal annuitants can now make penalty free withdrawals from the Thrift Savings Plan. Here is how to avoid incurring this 10% penalty.
