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All or part of the interest earned on Series EE bonds issued after December 31, 1989, or the interest earned on Series I bonds is excluded from income for qualifying individuals if when the savings bonds are sold, the accrued interest is used to pay for certain educational expenses. This column discusses which individuals who cashed in Series EE or Series I savings bonds … [Read more...] about Series EE and Series I Savings Bonds Interest Can Be Excluded from Tax If Used to Pay Qualified Educational Expenses

A couple of areas federal employees often overlook when planning for retirement are the "five year rules" that apply for keeping both Federal Employee Health Benefits (FEHB) and Federal Employee's Group Life Insurance (FEGLI) after retirement. Here are a some frequently asked questions regarding these issues from the Office of Personnel Management (OPM): When can I keep my … [Read more...] about The 5-Year Rule: Keeping Your Federal Health Benefits and Life Insurance After Retirement

The IRS announced last month that, as required by law, all legally permitted first and second round of Economic Impact Payments have been issued and the IRS now turns its full attention to the 2021 filing season. SEE ALSO: How Eligible Individuals Can Claim Recovery Rebate Credit If They Missed Economic Impact Payments Beginning in April 2020, the IRS and Treasury Department … [Read more...] about Where’s Your $600 Stimulus Payment?

The COVID-related Tax Relief Act of 2020 (COVIDTRA), part of the Consolidated Appropriations Act of 2021 (CAA, 2021) contains provisions related to individual income tax. One provision contains a new program which the COVIDTRA refers to as “additional 2020 recovery rebates” and a refundable tax credit – the Recovery Rebate Credit - to eligible individuals in the amount of … [Read more...] about How Eligible Individuals Can Claim Recovery Rebate Credit If They Missed Economic Impact Payments

There are a lot of moving parts when it comes to your retirement. Many of us become overwhelmed when faced with all of the options and decisions we need to make. Your retirement planning is a series of choices. Some are minor while others can have major consequences on your future and financial security. Given our extensive work with federal employees, we see the end … [Read more...] about 3 Crucial Federal Retirement Choices