Why more federal employees and retirees are protecting their retirement savings using this overlooked, IRS-approved program
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…
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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…
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…
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…
How to File a Tax Return for An Individual Who Died During 2022
Ed Zurndorfer discusses the rules for filing the federal income return (Form 1040) for an individual who died — including who can make the filing, the requirements, reporting income, and deductions/credits more…
Retirement: Are You ‘In it to Win it?’
Chris Kowalik outlines five key elements of your approach to retirement — and how to win your game strategy more…
Reporting Interest Income on the 2022 Federal Income Tax Return
Ed Zurndorfer outlines the various forms of taxable interest income including bonds, CDs, money market funds, US savings bonds and others more…
Lawmaker Reintroduces Equal COLA Act for Federal Retirees
If passed, the legislation would guarantee that federal retirees in the Federal Employee Retirement System (FERS) and the Civil Service Retirement System (CSRS) both receive the same annual percentage cost of living adjustment each year more…