Tag: 2016

People NOW Seeing Their Tax Refunds Banked Plus Tips on What to do if Your Refund Has Not Yet Been Received

[Latest Update] The IRS has announced that it cannot finalize processing of tax refunds before mid-February for taxpayers who claimed the EITC/ACTC, per the PATH Act. They have however stressed that taxpayers… Read more »

2018 vs 2017 Cost of Living Adjustment (COLA), Social Security and Medicare Tax Rates

[2018 COLA Increase] The Social Security Administration (SSA) has announced a relatively large 2% Cost of Living Adjustment (COLA) for 2018. Benefits like Social Security or Supplemental Security income, that are… Read more »

2018 Tax Refund Payment Delays For Returns With Earned Income and Child Tax Credit Payments (PATH Act)

It looks like we may have a repeat of 2016 and 2017 tax refund payment delays millions of American’s faced (and are still facing) this year. The IRS recently warned that… Read more »

2020 vs 2019 Military Pay Charts Reflecting Latest Raise – Updated Monthly Basic Pay Tables

2020 Tables – Reflecting a 3.1% increase for Military staff and troops under the 2020 National Defense Authorization Act (NDAA). This is the largest increase since 2010. The updated basic pay… Read more »

2020 Pay Raise Approved for Federal Employees on GS Pay Scale

[Updated 2020 GS pay chart] For 2020 government employees on the GS pay scale will see a 3.1% rise over 2019 levels. This is made up a 2.6% general schedule increase… Read more »

Which Fund Allocations Should I Choose for My 401K or IRA Contributions in 2016 Given Markets, Economy and Elections

With the markets rocky, US and global economies facing headwinds and a presidential political campaign in full swing, choosing how to allocate your current and future retirement savings for the medium… Read more »

2017, 2016 and 2015 Earned Income Tax Credit (EIC) Qualification Income Limits

[Updated] Below are the final IRS published 2016 and 2017 Earned Income Tax credit (EITC) figures. You can reference IRS publication 596 or use online tax providers like TurboTax or H&R Block to get a free… Read more »

2019 vs 2020 401k, 403b, 457 and TSP Contribution Limits and Catch-up Amounts

[Updated with the latest contribution limits] The IRS has released updated employer sponsored retirement plan limits, which covers 401(k), 403(b), 457 and Government Thrift Savings (TSP) plans. The annual contribution limits are indexed… Read more »