Taxes -- FederalSoup.com

IRS collection servicer accused of aggressive tactics

A new law that went into effect this year allowing the Internal Revenue Service to outsource unpaid tax collection to private companies has already gone awry, with one servicer being accused of engaging in aggressive tactics. View More
Open Season: Understanding Health Savings Accounts and What They Can Offer

In this issue of Federal Soup's special Open Season series, Edward A. Zurndorfer discusses the advantages of owning and using a health savings account (HSA) in conjunction with a high deductible health plan (HDHP). View More
Informed Investor: IRS releases self-certification procedure for missed rollover deadline

The IRS released the specifics of how individuals can self-certify for a waiver of the 60-day requirement for the rollover of an IRA or qualified retirement plan. This week’s column discusses the specifics of IRS Revenue Procedure 2016-47, including a list of the reasons that qualify for a waiver, such as the death or illness of a family member. View More

Does accepting a child care subsidy carry any tax or other implications?Apr 06, 2014

Child care subsidies are generally taxable as income to the recipient. However, if an agency implements the child care subsidy program as a dependent care assistance program as described in section 129 of the Internal Revenue Code, amounts of up to either $2,500 or $5,000 may be excluded from gross income. View More
Is a federal retirement annuity taxable for state income tax purposes?Feb 11, 2015

Certain states have no personal income tax (although they may tax interest and dividend income): Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. View More
Is an “alternative form of annuity” lump sum payment taxable?Apr 06, 2014

This form of payment currently is available only to employees who have a life-threatening illness or other critical medical condition, and do not have a former spouse entitled to court ordered benefits based on the employee’s federal service. A lump sum payment is made and the annuity is reduced according to actuarial factors. View More
Is a federal retirement annuity taxable for federal income tax purposes?Apr 06, 2014
What is a “source tax?”Apr 06, 2014
Are Federal Employees’ Group Life Insurance death benefits taxable?Apr 06, 2014