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FERS Special Retirement Supplement
Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS. Not long ago, I wrote an article about the effect Baby Boomers are having on the workplace landscape as they reach retirement…
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Goodbye Spring, Hello Summer 2016
Record Hot Temperatures Predicted for Last Week of Spring Here in North Alabama We have fallen behind on normal rainfall and water levels this Spring of 2016. Recently we’ve gained some ground catching up, thank goodness. Our routine day at the office this time of year, has us discussing quarterly estimated tax payments like the second…
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IRS Launches More Rigorous e-Authentication Process
Text-Enabled Cell Phone Required To access the new Get Transcript Online feature of the Internal Revenue Service, taxpayers must have an email address, a text-enabled mobile phone and specific financial account information, such as a credit card number or certain loan numbers. Taxpayers who registered using the older process will need to re-register and strengthen…
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Hubbard Guilty
Now, What About the Rest of ‘Em? How is it that our elected politicians often times elevate themselves to be above the law, even when caught absolutely “red-handed?” Their first defense, always, is that their prosecution is politically motivated. I’m sorry, but if you break the law, and especially if there is so much irrefutable…
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Injured Spouse Cases Not Always Timely Resolved
The IRS is required by law to apply a taxpayer’s tax refund to any past-due Federal tax debt, child or spousal support debt, Federal agency nontax debt (such as a student loan), or State income tax obligation before issuing the refund. If a taxpayer files a joint tax return resulting in a refund, that refund…
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3rd Qtr 2016 Interest Rates
The Internal Revenue Service announced yesterday that interest rates will remain the same for the calendar quarter beginning July 1, 2016. The rates will be: four (4) percent for overpayments [three (3) percent in the case of a corporation]; four (4) percent for underpayments; six (6) percent for large corporate underpayments; and 1 and one-half (1.5)…
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Life Events
George Bernard Shaw once said, “Everything happens to everybody sooner or later if there is time enough.” George Bernard Shaw was Mostly Correct This past Saturday, Pam and I attended a wedding. June is a very popular month for such an event and here in Alabama in late Spring, the weather can be friend or foe to an outdoor…
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Common Law Marriage Abolished In Alabama
During the 2016 session of the Alabama legislature, House Bill 332 was introduced by Representative Mike Jones, Jr., of Alabama’s 92nd District. The bill was signed into law by Governor Robert Bentley on May 3, 2016, and it effectively abolishes future common law marriage in Alabama. Specifically, the new law states that “no common-law marriage…
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IRS Warns of Latest Scam Variation Involving Bogus “Federal Student Tax”
The Internal Revenue Service issued a warning about bogus phone calls from IRS impersonators demanding payment for a non-existent tax, the “Federal Student Tax.” Even though the tax deadline has come and gone, scammers continue to use varied strategies to trick people, in this case students. In this newest twist, they try to convince people to wire…
