Pay & Benefits
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.
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.
Pay & Benefits
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."
Retirement
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.
Human Resources
Legislation Introduced to Target Tax Delinquent Federal Employees
Legislation has been introduced in the House that would prevent individuals with seriously delinquent tax debt from working for the federal government.
Federal Workforce News
What Tax Records Should You Keep?
With the end of the year and tax season approaching, the IRS is reminding taxpayers about what tax records they should keep and for how long.
Retirement
Donald Trump’s Middle Class Tax ‘Cut’
The author notes that a tax plan proposed by Donald Trump would cut many Americans' taxes but at the same time might actually create a tax increase for…
Retirement
National DEAF-icit: Debt, Taxes, and Your Retirement
The author says that taxes are likely to be higher in the future when current federal employees are at or nearing retirement. He outlines some options available to…
Retirement
Federal Retirees: Don’t Get Bitten by the Estimated Tax Penalty
New retirees are prone to getting caught by the estimated tax penalty, or ETP. Here are some tips on how federal retirees can avoid getting hit with extra…
Retirement
Required Minimum Distributions and Your TSP
The Thrift Savings Plan requires that participants who are 70.5 or older take required minimum distributions each year. Here is how this works.
Pay & Benefits
Social Security Taxes Set to Rise for Some Employees in 2017
The Social Security Administration has announced that the maximum amount of earnings subject to the Social Security tax will climb 7.3% in 2017.