IRS Increasing Estimated Tax Penalties: What Federal Employees and Retirees Need to Know

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IRS Increasing Estimated Tax Penalties: What Federal Employees and Retirees Need to Know

Over the past year, the IRS has significantly increased penalties on underpayment of both estimated tax payments and federal income withholding from salary and retirement income. Individuals who are required to make quarterly estimated payments (due dates each year are April 15, June 15, September 15 and the following January 15) include those individuals with large amounts of investment income such as interest, dividends and capital gains that is not subject to federal income tax withholding. Follow link to read full article. https://bit.ly/3Sp2vx5

PEER Sues to Force OPM To Implement Administrative Leave Reforms

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PEER Sues to Force OPM To Implement Administrative Leave Reforms

Though Congress enacted a law aimed at ending agencies’ abuse of involuntary administrative leave, the federal government’s dedicated HR agency has yet to implement its key provisions.

An environmental advocacy group is following through on the ultimatum it set last fall, suing the Office of Personnel Management in an effort to force the government’s HR agency to implement a 7-year-old law aimed at limiting agencies’ ability to put federal workers accused of misconduct on prolonged stints of administrative leave. Follow link to read more. https://bit.ly/4ePZcbD

The Major Takeaways For Federal Employees From The First Presidential Debate

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The Major Takeaways For Federal Employees From The First Presidential Debate

President Biden and former President Trump clashed over the role of government and their vision for how to manage agencies.

President Biden and former President Trump on Thursday squared off in the first debate of the 2024 cycle, offering a fiery discussion over the ways they would shake up and deploy various parts of the federal government. Follow link to read more. https://bit.ly/3RMpX71

Your 2025 COLA: Early Projection of 1.75%

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Your 2025 COLA: Early Projection of 1.75% 

The 2025 COLA payment will be effective in January 2025. Here is an early projection and how it compares to recent years.
Comparing Recent COLAs and Projecting 2025 COLA. Click HERE to find out more.

All TSP Funds Up in 2024—Largest Fund Up 15%—New L Fund Launching in July

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All TSP Funds Up in 2024—Largest Fund Up 15%—New L Fund Launching in July

All TSP Funds are up in 2024 with the largest Fund up 15%. A new TSP Fund is scheduled to be launched in July.

Highest Point of TSP Investor Satisfaction and New Lifecycle Fund Launch

In the monthly meeting of the Federal Retirement Thrift Investment Board (FRTIB), the FRTIB members were advised that overall participant satisfaction with the website and the Thriftline hit new high points. Satisfaction with the website and mobile app was reported at 94%, and satisfaction with the ThriftLine was reported at 93%. Follow link to read more. https://bit.ly/4cFAKrp