Federal benefits expert, Ed Zurndorfer, discusses the rules for a reduced optional retirement referred to as an MRA+10 or an MRA+20 FERS retirement. This type of immediate retirement allows an eligible FERS employee to receive an immediate annuity as early as the employee’s minimum retirement age and with as little as 10 years of FERS service more…
Recently Proposed IRS Regulations on New 10-Year RMD Rule Are a Surprise – Part 3
Federal benefits expert, Ed Zurndorfer, explains how the SECURE Act rules for required minimum distribution affect trusts as IRA and workplace retirement plan beneficiaries more…
Recently Proposed IRS Regulations on New 10-Year RMD Rule Are a Surprise – Part 2
In part 2 of this 3-part series, federal benefits expert, Ed Zurndorfer, explains RMD rules for inherited Roth IRAs and for successor beneficiaries of traditional inherited IRAs and workplace retirement plan participants such as the Thrift Savings Plan more…
Recently Proposed IRS Regulations on New 10-Year RMD Rule Are a Surprise – Part I
Federal benefits expert, Ed Zurndorfer, explains the major surprise: The IRS’ interpretation of how the 10-year rule for required minimum distributions applies to certain individual retirement accounts and workplace retirement plan beneficiaries more…
Who Has to File a Report of Foreign Bank and Financial Accounts (FBAR)?
Federal benefits and tax expert, Ed Zurndorfer, explains when Individuals who have a financial interest in, or a signature authority over, a financial account located outside of the U.S may have to file more…
Some Federal Employees and Retirees Face Two Important Deadlines: Medicare and RMDs
Federal benefits expert, Ed Zurndorfer, highlights two approaching deadlines involving taking required minimum distributions (RMDs) from retirement plans and Medicare enrollment and changes more…
Individuals Should Check on Advance Child Tax Credit and Economic Impact Payments When Preparing 2021 Tax Returns
Federal benefits and tax expert, Ed Zurndorfer, discusses what steps to take to confirm receipt of either or both of these payments. Plus, what happens when either payment is received but the individual is not eligible? Or what happens when an eligible individual did not receive either payment? more…
Non-Itemizers Allowed Charitable Deduction on 2021 Federal Income Tax Return
Federal benefits and tax expert, Ed Zurndorfer, details the specifics of this deduction and how it is claimed on an individual’s federal income tax return. more…
Federal Employees and Retirees Should Review Dental Insurance Choices
Federal benefits expert, Ed Zurndorfer, discusses why employees, annuitants, and survivor annuitants are encouraged to review their options as to how to pay their dental expenses more…
Tax Consequences of Selling a Principal Residence
Federal benefits and tax expert, Ed Zurndorfer, addresses the tax consequences of selling a principal residence including when you can exclude capital gains, use and ownership tests, and how to report it on federal income tax returns more…