Ed Zurndorfer discusses the exceptions that allow a federal employee to make withdrawals from their traditional Thrift Savings Plan or from a traditional IRA before age 59.5 and not be subject to an early withdrawal penalty. more…
High-3 Average Salary: What Is It and How Is It Calculated?
All eligible retiring federal employees will receive an annuity that is calculated based on their length of federal service and their high-three average salaries. Learn what it is, what pay is included, and how it’s calculated — with several helpful examples more…
IRS Provides Relief for Certain Tax Returns Filed During 2020 and 2021
Ed Zurndorfer explains which individuals are eligible for this relief, what type of tax relief is available, and exceptions to the penalty relief more…
IRS Increases Penalty for Underpaying Estimated Taxes
Federal employees who did not track their federal income withholding from their paychecks during 2023 may be in for a shock this spring when they file their federal income tax returns. Ed Zurndorfer offers some suggestions for federal employees and retirees to keep their federal income tax payments on track in order to avoid under withholding penalties more…
How the 2024 Federal Pay Raise Affects a Retiring Employee’s Lump-Sum Annual Leave Payment
Ed Zurndorfer explains how the pay increase affects the lump-sum annual leave payment for unused annual leave hours made to those employees who retired more…