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…
Past Age 70.5 Traditional IRA Contributions Can Result in ‘Taxable’ Qualified Charitable Distributions Under SECURE Act
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…
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…