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Articles | Nearly Three Dozen Tax Breaks to End in 2009 and 2010
Nearly Three Dozen Tax Breaks to End in 2009 and 2010
October 19, 2009
There are several tax credits for individuals that are scheduled to end in 2009
and 2010.
The following list gives an overview of a few of the provisions scheduled to expire
between November 2009 and December 2010 that are of particular interest to
federal employees and retirees. (To see the larger list provided
by Thomson Reuters, click here).
Retirement Plans and IRAs
- Waiver of 2009 minimum required distribution rules for IRAs and defined
contribution plans (such as the Thrift Savings Plan). (expires on 12/31/2009)
- Tax-free treatment of qualified charitable distributions from IRAs for
individuals age 70½ or older. (expires on 12/31/2009)
Tax Credits
- Refundable credit of $250 ($500 for those married and filing
jointly where both spouses are eligible individuals) for federal government
retirees who are not covered by Social Security and weren't eligible to receive
an economic recovery payment. (expires on 12/31/2009). For questions regarding this, please contact the Social Security Administration at: http://www.socialsecurity.gov/payment/
Overview - CSRS
