Monday, June 14, 2021

Q.: I am a member of the New York City Fire Department Pension Fund. I have been contributing for 37 years. At retirement, what steps must I take to withdraw as much as possible from my pensio…

If you applied for Social Security benefits, or have a pending reconsideration or hearing request, you can check the status online using your free personal my Social Security account. If you d…

Monday, June 07, 2021

For most taxpayers, the tax deadline has passed. But planning for next year can start now. The IRS reminds taxpayers that being organized and planning ahead can save time and money in 2021. He…

One very convenient benefit of investing with the Deferred Compensation Plans of the State and City of New York is an "in-plan" opportunity to convert amounts from the pre-tax account to the d…

Friday, May 28, 2021

As school winds down, many students will hit the job market for summer employment. The Internal Revenue Service reminds students that not all the money you earn may make it into your pocket. T…

On May 3, I first wrote about the fact that the State Comptroller, as sole trustee of the New York State and Local Retirement System, does not seem to know that loans taken in conjunction with…

Monday, May 24, 2021

Along with the lazy, hazy days of summer come some extra expenses, including summer day camp, nursery school and preschool. The IRS has some good news for parents: those added expenses may hel…

There's probably been a time in your life when you've wondered, "Can I do this online instead of visiting a Social Security office?" The answer is more than likely yes, and you can find more i…

Monday, May 17, 2021

Congratulations if you recently updated your status from single to married, but you should be aware that marriage also brings about some changes with your income taxes. Here are several tips f…

Monday, May 10, 2021

The IRS receives thousands of reports each year from taxpayers who receive suspicious emails, phone calls, faxes or notices claiming to be from the Internal Revenue Service.

Your Social Security Statement tells you how much you or your family can expect to receive in disability, survivors and retirement benefits. It also provides a record of your earnings history …

Monday, May 03, 2021

Each year, the Internal Revenue Service sends millions of letters and notices to taxpayers for a variety of reasons. Although some people may feel anxious when they receive one, many are easy …

New York administers eight public-sector retirement systems. Three are offered by the state and five by the city. Most of these retirement systems have six benefit tiers. Members should be con…

Monday, April 26, 2021

Many taxpayers fear an IRS audit. Although the IRS audit targets change with the times, below you'll find some of the high-risk tax-audit areas that the IRS has examined in recent years:

Today, more than 5 million Americans are living with Alzheimer's disease. Since the onset of Alzheimer's can occur in people before they retire, it may strike during an individual's working ye…

Monday, April 19, 2021

An amended tax return generally allows you to file again to correct a mistake in your filing status, your income or to add deductions or credits you may have missed. Here are some points the I…

The readers of Current Pension Topics are well aware of how hurtful it is to invest for retirement with a commission-based investment broker. These nationwide sales sharks charge the uninforme…

Monday, April 12, 2021

Can't make the May 17 tax-filing deadline and need more time to file your tax return? You can get an automatic six-month extension of time to file from the IRS. Here are important things you n…