A QCD is a withdrawal from a traditional IRA and donating it directly to a qualified charity. Federal benefits and tax expert, Ed Zurndorfer, discusses the tax benefits of QCDs — including using them to fulfill the required minimum distribution (RMD) requirement. Practical examples are included… more…
Recent Articles
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…
When Will Federal Agencies Reopen, Employees Be Released from Mandatory Teleworking?
The Office of Management and Budget and Office of Personnel Management issued a plan for how agencies can return gradually to normal operations more…
A Different Approach for Charitable Giving During 2020 for Federal Employees and Retirees
New laws (the SECURE and CARES Acts) have provided confusion and challenges for many in regard to charitable giving. Federal benefits and tax expert, Ed Zurndorfer, outlines what federal employees and annuitants should do to save on federal and state taxes more…
Some Taxpayers Receiving ‘Status Not Available’ When Using IRS Tracking Tool for Economic Relief Payments
The IRS said users may receive this message for one of the following reasons… more…
IRS ‘Get My Payment’ Tool Now Available to Track Status of Economic Relief Payments
The web-based app also allows taxpayers (who filed in 2018 or 2019 but did not provide banking information on their return) to submit direct deposit information more…
FAQs: Suspension of Required Minimum Distributions for 2020
Federal benefits expert, Ed Zurndorfer, provides timely answers to the recent suspension of RMDs for defined contribution plans (including the Thrift Savings Plan) and traditional IRAs more…
TSP Issues Details on Temporary Changes to Required Minimum Distributions
The Thrift Savings Plan announced this morning the actions that affect participant’s RMDs as authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act more…
New Online Tools Will Help Americans Get and Track Status of Economic Relief Payments
While most payments will be sent automatically starting this week, the new web tools will assist others in confirming their eligibility. It is expected that everyone can check the status of their payments starting April 17. more…