This column explains how RMDs will be calculated during 2021 for those individuals who are required to take them. Before presenting the general RMD calculation procedure, it is useful to review what an RMD actually is. Edward A. Zurndorfer The ... Read More

Applauded by Union leaders, Biden canceled five executive orders from Trump presidency- 1 involving “Schedule F,” 3 regarding collective bargaining rights, and another that halted diversity training in agencies. After his inauguration, some of Biden’s first actions in office involved ... Read More

Ed Zurndorfer discusses these changes, as well as presenting automatic inflation adjustments to individual income tax brackets and other employee benefits thresholds and limits taking effect in 2021. During 2020, Congress passed two important pieces of tax-oriented legislation in response ... Read More

Last-minute executive order finalized the 2021 Federal Pay Raise at 1% for civilians and 3% for military The 2021 Federal Pay Raise was finalized by an executive order, which was signed by President Trump in the final hours of 2020. ... Read More

While Gathering Documents to Prepare 2020 Income Tax Returns, Employees Are Reminded to Check Their Social Security Statements Edward A. Zurndorfer – Like individuals who work in private industry, nearly all federal employees will receive some form of Social Security ... Read More

For employees who use their privately owned vehicle for Government business, Reimbursement Rates for Gas Mileage Dropped Again in 2021 There are several people employed by the Federal Government who have to use a vehicle to perform their duties. As ... Read More

Employees Who May Owe Significantly on Their 2020 Taxes Should Make An Estimated Tax Payment by January 15, 2021 Edward A. Zurndorfer Federal employees have federal and state income taxes regularly withheld from their paychecks. But many employees receive income ... Read More

We celebrate the end of the year with our Top 5 “Most-Listened-To” Podcasts in 2020 5. Episode 23: Tax & TSP Talk Click Here to Listen 4. Episode 17: The Furlough Cheesecake Click Here to Listen 3. Episode 12: The ... Read More

STWS Advisor Jennifer Meyer provides an update for feds on the payroll tax deferral and the second stimulus check Jennifer Meyer, CFP© Many Federal employees have had a 6.2% increase in their paychecks since the end of Summer. This was ... Read More

Now is the Time for Employees to Choose 2021 TSP Contribution Amounts So As to Not Lose Agency TSP Matching Edward A. Zurndorfer Internal Revenue Code (IRC) Section 402 imposes a limit – the “elective deferral” limit – on the ... Read More