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 Financial Discussion
It is always wise to have a secure financial foundation. Here is a place to ask questions, exchange ideas and share information on how to make the most of your money.
To read today's top news stories on federal employee related news visit FederalDaily.com.
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Rank: Senior Member
Groups: Registered
Joined: 2/26/2011(UTC)
Posts: 2,492
Thanks: 251 times
Was thanked: 525 time(s) in 437 post(s)
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New guidance:
2020 NDAA revision of 5 USC 5724b
•Legislation replaced the word "employee" with "individual"
•3 previously excluded groups of employees are now eligible for RITA
◦New appointee, assigned under the Government Training Act and returning from an overseas assignment for the purpose of separation from Govtservice
◦System change required to process (timeline TBD)
•Applies retroactively to Jan 1, 2018
Third Party payment tax year
•Per IRS Publication 15-B: Invoices paid to a vendor in November & December are treated as income to the traveler in the following tax year
•3rdparty payment calendar year runs 1 Nov –31 October
•Reduces corrected W-2s and amended tax returns
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Rank: Senior Member
Groups: Registered
Joined: 10/13/2009(UTC) Posts: 353   Thanks: 58 times
Was thanked: 41 time(s) in 38 post(s)
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Welcome change! I was preparing to battle over RITA and my PCS (return rights) back to CONUS. HR used the "returning from overseas assignment for the purpose of separation from the service" even
though I was not separating, just transferring back to my original agency. Their explanation was that it was a separation from one component to another.
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Rank: Senior Member
Groups: Registered
Joined: 2/26/2011(UTC)
Posts: 2,492
Thanks: 251 times
Was thanked: 525 time(s) in 437 post(s)
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There was a whole slide deck worth of new/useful information. I'll pull it up and PM you with it.
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 1 user thanked GWPDA for this useful post.
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