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.
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.
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.
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 others.
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 federal workers to help offset future tax burdens.
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 taxes and penalties under this rule.
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.
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.
Debt Ceiling Looms… Again
Borrowing money has become commonplace for the federal government to fund its operations. What is this likely to mean for future tax rates? The author provides an analysis.
IRS is Outsourcing Debt Collection Again
The Internal Revenue Service has announced plans to begin private collection of certain overdue federal tax debts as early as spring of 2017. At least one union representing federal employees is opposed to the plan.
Constructing a Retirement Income Plan
The author outlines some of the most crucial sources of retirement income for federal employees.
