Treasury and IRS officials initially extended the deadline from April 15 to July 15, but current economic and health conditions suggest that another three months is necessary more…
TSP Releases Details of Withdrawal Changes for Participants Affected by COVID-19
The Thrift Savings Plan highlighted withdrawal provisions of the CARES ACT that have favorable tax treatment — including hardship withdrawals and age-based in-service “59½” withdrawals more…
6 Reasons Your Economic Impact Payment Could Be Less Than Expected
The IRS issued the common scenarios that may explain why you received a different payment amount than expected (plus a chart to help you calculate your payment) more…
Wednesday Deadline to Get Quicker Economic Impact Payment from IRS
For many taxpayers, the last chance to obtain a direct deposit of their Economic Impact Payment rather than receive a paper check is Wed., May 13 at noon more…
Senators Ask for 25% Pay Raise for Some Federal Employees
In a letter this week, 20 senators urged OPM to use their existing authority to implement hazard pay for federal employees, which provides for pay increases of up to 25 percent more…
Legislation Would Allow Some Federal Employees to Carry Over Unused Annual Leave
If passed, the Federal Frontline Worker Leave Protection Act would amend the existing law to include work responding to COVID-19 as an instance that would allow workers to roll unused hours over to next year more…
Bill Bans TSP Investments to Some Foreign Index Funds Including China
If passed, the Taxpayers and Savers Protection Act would prevent the Federal Retirement Thrift Investment Board from steering federal employees’ retirement contributions in the Thrift Savings Plan to China more…
TSP Issues Expanded FAQs on Suspension of Required Minimum Distributions (RMDs)
The Thrift Savings Plan has expanded guidance it issued earlier on the 2020 suspension of minimum withdrawal requirements (including an update on April 28th to the 60-day deadline for rollovers)… more…
IRS Enhances ‘Get My Payment’ Tool To Help More Americans Track and Receive Economic Impact Payments
The additional changes announced April 26 will help millions of additional taxpayers with new or expanded information and access to adding direct deposit information more…
FAQs: Getting Your Economic Impact Payment
The IRS has issued updated answers to the most common questions people are having regarding their economic relief payments for the coronavirus situation more…