Retirement
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.
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 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…
Retirement
Constructing a Retirement Income Plan
The author outlines some of the most crucial sources of retirement income for federal employees.
Retirement
Required Minimum Distributions and Your IRA
How do required minimum distributions work with your traditional IRA? Here are some key facts for you to know.
Federal Workforce News
The IRS and the Olympics
Team USA is competing in the Rio Olympics and bringing home their medals. But along with their victories comes something else: taxes owed to the IRS. Some in…
Federal Workforce News
Cost of Complying with Tax Code Requirements: $409 Billion
Americans will spend 8.9 billion hours to comply with tax filing requirements in 2016 according to a new report.
Retirement
Accelerate the Tax Efficiency of Roth TSP Distributions
The author describes a technique known as the "The Back Door Roth TSP Withdrawal" federal employees can use to accelerate their tax benefits in retirement.
Retirement
How Long Should You Keep Your Tax Records?
What tax related documents do you need to keep, and for how long do you need to keep them? Here are some suggestions.
Retirement
State Fiscal Problems Threaten Higher Taxes On Federal Pensions
Federal retirees depend on their federal civil service annuity for much of their retirement income, but states facing financial problems may be looking to public sector pensions as…
Federal Workforce News
How Much Did the President and Vice President Pay in Taxes in 2015?
The president and vice president have released their tax returns for 2015 showing their total incomes and effective tax rates.