If passed, the Federal Adjustment of Income Rates (FAIR) Act would give a 2026 federal pay raise including an overall average 3.3% increase in base pay with 1% for locality pay more…
Homeownership Can Shelter Federal Employees and Retirees from Income Taxes
Ed Zurndorfer outlines some key tax deductions and tax exclusions associated with homeownership that federal employees and retirees should be aware of when it comes to owning, buying and selling a home more…
Bill Reintroduced to Eliminate Income Tax on Social Security Benefits
If passed, the Senior Citizens Tax Elimination Act (HR 1040) will amend the Internal Revenue Code to eliminate Social Security benefits in an individual’s gross income. A senior group estimates the annual tax savings per household and the possible impact on future cost-of-living adjustments (COLAs) more…
Taxation of Lump-Sum Payment of Refunded CSRS or FERS Contributions
Federal employees who leave federal service before they are eligible to retire can apply for a refund of their CSRS or FERS retirement contributions. Ed Zurndorfer discusses the federal income tax consequences of the lump-sum distribution of CSRS and FERS retirement contributions. more…
Update on Implementation of Social Security Fairness Act
Ed Zurndorfer outlines the latest information issued by the Social Security Administration regarding implementation of the new law repealing the WEP and GPO. Includes impact on a beneficiary’s payments and the agency’s challenges in implementation more…