Learn why an employee’s OPF is vitally important — including for retirement purposes — and how federal employees can get a copy of their OPF and make changes in case of errors or omissions more…
Recent Articles
Choosing Between Standard Deduction and Itemizing Deductions
Ed Zurndorfer discusses some important considerations for using the standard deduction — or itemizing deductions — when filing federal income taxes more…
Understanding the Capital Gain Tax Rules When Selling a Primary Personal Residence
Real estate sales during 2022 decreased compared to sales in previous years. Ed Zurndorfer explains why it is important for federal employees and retirees — who may have sold their principal residence during 2022 — to review the IRS rules regarding the sale of a principal residence more…
Proposed Bill Would Exempt Social Security and Medicare from Debt Ceiling
Recently introduced legislation would keep Social Security and Medicare from being used in negotiations over the federal government raising the debt ceiling more…
Legislation Reintroduced to Postpone Federal Employees’ Payment Obligations During a Government Shutdown
If passed, the Federal Employee Civil Relief Act would enable government employees and contractors to postpone payment obligations during a shutdown or debt default and for 30 days afterward more…
How to Report Capital Gains and Losses on the 2022 Federal Income Tax Return
Ed Zurndorfer outlines how the IRS defines a capital asset, capital gain tax rates, and Schedule D/Form 8949 reporting tips. Practical examples are included more…
Many Thrift Savings Plan Forms Now Online, Some Older Forms Obsolete
The Thrift Savings Plan recently announced that it has created new forms and online tools and declared prior versions of some old forms obsolete more…
How to Report Dividend Income on the 2022 Federal Income Tax Return
Ed Zurndorfer explains how federal employees and retirees must report the ordinary dividends they received in their non-retirement brokerage accounts on IRS Form 1040. Preferential tax rates, nondividend distributions, and dividends from credit unions, life insurance, mutual funds and REITs are covered. more…
The 5-Year Rule: Keeping Your Federal Health Benefits and Life Insurance After Retirement
Don’t overlook these important rules when planning for federal retirement more…
Beneficiaries of Inherited IRAs Face RMD Challenges During 2023
Recent laws have created confusion about which inherited IRA beneficiaries are subject to required minimum distributions — and how much of an RMD they need to withdraw. Ed Zurndorfer summarizes the RMD rules for beneficiaries of inherited IRAs more…