How Does the “Still-Working” TSP RMD Exception Strategy Work?
Over the past 20 years, many Americans including federal employees have been staying on the job longer. Workers aged 75 and over are expected to have the largest growth in…
Understanding the Rules for Amending a Federal Income Tax Return
Individuals who found errors on their 2025 federal income tax returns (or prior year returns, see below) that they recently filed earlier this year can file an amended federal income…
Some Employees and Retirees Need to Pay Federal Estimated Taxes During 2026 to Avoid IRS Penalties
Most federal employees and retirees receive various types of income that are not subject to mandatory federal income tax withholding. Among these income-types are interest, dividend and capital gain income,…
High Income Federal Employees Unable to Contribute to a Roth IRA for the Year 2025 Should Use the “Back-Door” Strategy to Convert to a Roth IRA
Effective January 1,2018 following the passage of the Tax Cuts and Jobs Act of 2017 (TCJA), individual federal marginal tax rates were reduced to the lowest rates in the 100-year…
How the OBBBA Tax Law Changes the Mortgage Interest Deduction for Federal Employees
This column discusses the mortgage interest income tax deduction changes resulting from the passage of the One Big Beautiful Bill Act of 2025 (OBBBA). Before discussing these changes which could…
IRA RMD Deadline 2026: First Withdrawal Due April 1 for Age 73 Retirees
April 1,2026 is the deadline for federal employees and retirees born between January 1 and December 31,1952 and who own traditional IRAs to take their first traditional IRA required minimum…
Two Approaching Deadlines Facing Some Federal Employees and Retirees
Two key deadlines are approaching for some federal employees and retirees. The first deadline is for those federal employees and retirees born between January 1 and December 31, 1952, and…
What OBBBA means for your 2025 taxes
In July 2025, President Trump signed into law Public Law 119-21, commonly known as the One Big Beautiful Bill Act (OBBBA) of 2025. Among the provisions passed into law is…
SALT Deduction Changes: How the $40,000 Cap Impacts High-Income Feds
The Tax Cuts and Jobs Act of 2017 (TCJA) made two changes to the state and local taxes deduction included as an itemized deduction on IRS Form 1040 Schedule A.…
Individuals Have Until April 15,2026 to Recharacterize 2025 Roth IRA Contributions
Through the years, individuals have contributed to the different types of Individual Retirement Arrangements (IRAs). These different types of IRAs include deductible and nondeductible traditional IRAs and Roth IRAs. In…