Retirement & Taxes
Long-term financial planning, retirement accounts, government benefits, tax law, and IRS rules. Covers the intersection of policy and personal finance that affects how people save, invest, and plan ahead.
Latest in Retirement & Taxes
A lower-earning spouse can claim up to half of the other’s Social Security
Married couples with unequal earnings histories face a concrete financial decision every year they approach retirement age: when each spouse files for Social Security can...
If you can’t pay your tax bill, the IRS will set up a monthly payment plan online in minutes
Taxpayers who owe the IRS more than they can pay in one lump sum now face a straightforward choice: set up a monthly installment plan...
You can hand each person $19,000 in 2026 — double for a married couple — with no gift tax and no IRS form
Every person in the United States can give up to $19,000 to any number of recipients in 2026 without owing a cent in gift tax...
You have until next April’s filing deadline — not December 31 — to fund an IRA for this year
Many savers still rush to move money into their individual retirement accounts before December 31, worried that the chance to cut their tax bill disappears...
Original Medicare puts no cap on what you pay out of pocket each year
Millions of Americans enrolled in Original Medicare face a structural gap that no other major health insurance program in the country shares: there is no...
Many households will see tax refunds $300 to $1,000 larger next spring under the new law
Millions of American households stand to collect federal tax refunds next spring that are $300 to $1,000 larger than what they received a year earlier,...
Lower-income workers can claim up to $1,000 back for funding a retirement account
Millions of lower-income Americans who save for retirement are leaving free money on the table. A federal tax credit worth up to $1,000 per individual,...
Teachers, firefighters, and other public workers are getting full Social Security checks again after Congress repealed two old penalties
Retired teachers, firefighters, police officers, and other public employees across the United States are now receiving larger Social Security checks after Congress eliminated two decades-old...
Medicare picked 15 more drugs for price cuts, including its first under Part B
Roughly 1.8 million Medicare beneficiaries who depend on 15 high-cost prescription drugs could see lower prices starting January 1, 2028, after the Centers for Medicare...
Locked-out high earners can still fund a Roth IRA through the backdoor
High earners who make too much to contribute directly to a Roth IRA still have a clear path into one, and the stakes for getting...
Selling a losing investment to offset a gain, called tax-loss harvesting, can lower your tax bill at year-end
Investors sitting on capital gains this year face a familiar year-end decision: sell losing positions now to reduce what they owe, or hold and hope...
Money you put into a Roth IRA, but not the earnings, can come back out anytime tax and penalty free
Savers who contribute to a Roth IRA hold a withdrawal advantage that most other retirement accounts do not offer: the dollars they put in can...
Original Medicare just started requiring prior approval for knee scopes and back injections in six states, with AI helping decide who gets covered
Medicare beneficiaries in six states now face a new step before receiving certain common orthopedic procedures. The Centers for Medicare and Medicaid Services launched the...
The points you pay at closing to buy down your mortgage rate are usually deductible the year you purchase
Homebuyers who paid mortgage points at closing during 2025 face a filing decision right now: deduct the full amount on this year’s return or spread...
A widow can take a survivor’s benefit first, then switch to her own later
Surviving spouses who qualify for both Social Security survivor benefits and their own retirement benefits face a choice that can shift their lifetime income by...
Taxpayers 65 and older can stack an extra $6,000 deduction on top of the standard deduction through 2028
Retirees filing their 2025 federal tax returns can claim an extra $6,000 deduction that did not exist a year ago, stacking it on top of...
The beneficiary form on your 401(k) overrides your will — an outdated one can send your savings to an ex
The paperwork attached to a retirement account often determines who gets the money more powerfully than any will. For 401(k)s and IRAs, the beneficiary designation...
The child tax credit is $2,200 per kid this year — but the most a lower-income family can get back is $1,700
Families with children will see a larger Child Tax Credit on paper for tax year 2025, but the gap between the full credit and the...
Teenagers with summer jobs can open Roth IRAs and contribute up to $7,500 of their wages
A teenager earning summer wages at a pool, restaurant, or camp this year can funnel up to $7,500 into a Roth IRA for tax year...
Divorced spouses married at least 10 years can claim up to half an ex’s Social Security — and the ex’s check isn’t reduced
Millions of divorced Americans who spent a decade or longer in a marriage may be sitting on a Social Security benefit they never claimed. Federal...