All eligible retiring federal employees will receive an annuity that is calculated based on their length of federal service and their high-three average salaries. Learn what it is, what pay is included, and how it’s calculated — with several helpful examples more…
IRS Provides Relief for Certain Tax Returns Filed During 2020 and 2021
Ed Zurndorfer explains which individuals are eligible for this relief, what type of tax relief is available, and exceptions to the penalty relief more…
IRS Increases Penalty for Underpaying Estimated Taxes
Federal employees who did not track their federal income withholding from their paychecks during 2023 may be in for a shock this spring when they file their federal income tax returns. Ed Zurndorfer offers some suggestions for federal employees and retirees to keep their federal income tax payments on track in order to avoid under withholding penalties more…
How the 2024 Federal Pay Raise Affects a Retiring Employee’s Lump-Sum Annual Leave Payment
Ed Zurndorfer explains how the pay increase affects the lump-sum annual leave payment for unused annual leave hours made to those employees who retired more…
Understanding the 2024 COLA – Part II: FERS and “Trans” FERS Annuitants and Survivor Annuitants
Ed Zurndorfer outlines the cost-of-living adjustment for those in the Federal Employees Retirement System, how it’s determined, and the effect on annuities. Practical examples are included. more…
Understanding the 2024 COLA – Part I: CSRS/CSRS Offset Annuitants and Survivor Annuitants
Ed Zurndorfer outlines the cost-of-living adjustment for those in the Civil Service Retirement System, how it’s determined, and the effect on annuities. Practical examples are included. The second column in this series will discuss the 2024 COLA for FERS retirees more…
How a Charitable Gift Annuity Can Be Advantageous to Federal Employees and Retirees with Sizeable Estates
Ed Zurndorfer discusses how a charitable gift annuity works, the tax implications, advantages and disadvantages more…
Using an IRA Charitable Gift Annuity to Make a Charitable Donation and Receive Income for Life
Ed Zurndorfer presents information about charitable gift annuities including how they work, how they are taxed, what are their fees, and the risks associated with them more…
Answers to Tricky Tax Questions for the Thrift Savings Plan and IRAs
Ed Zurndorfer provides the answers to some of the most often asked questions pertaining to the Thrift Savings Plan and Individual Retirement Arrangements more…
Holiday Gift Tax Planning Suggestions for Federal Employees and Retirees
Ed Zurndorfer describes how federal employees and retirees can use gifting to enhance the Roth IRA savings of their children, grandchildren and parents more…