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,…
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…
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…
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 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…
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…
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.…
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…
A recent STWS column, TSP Announces Start of Roth TSP In-Plan Conversions (https://stwserve.com/tsp-announces-start-of-roth-tsp-in-plan-conversions/) presents information regarding the start of Roth TSP in-plan conversions on January 28, 2026. This column discusses…
IRS Form 5498 (IRA Contribution Information) is vitally important for individuals who own any type of Individual Retirement Arrangement (IRA). The Form 5498 is completed by every IRA custodian meaning…