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
Gamblers can now deduct only 90% of their losses — breaking even at the casino still leaves a tax bill
Gamblers who finish the year with exactly as much in losses as winnings will owe federal income tax for the first time starting with their...
Day camp counts toward the child and dependent care credit — overnight camp never does
Working parents choosing between day camp and overnight camp for their children this summer face a tax distinction that directly affects how much they can...
Leftover 529 college savings can move into your child’s Roth IRA tax-free — up to $35,000 over a lifetime
Families with unused 529 college-savings balances gained a new option to move those funds, tax-free, into a Roth IRA for the account’s beneficiary. The provision,...
Workers are saving a record 9.6% of pay into their 401(k)s — even as the average balance fell 4% to $141,000
American workers pushed their average 401(k) contribution rate to a record 9.6 percent of pay, even as market turbulence dragged the typical account balance down...
Dishwashers, DJs, and golf caddies all made the IRS’s final list of 70 jobs eligible to deduct up to $25,000 in tips
Workers who never expected a tax break on their tips, from dishwashers splitting pooled gratuities to DJs collecting cash after a wedding set, now qualify...
The IRS’s interest rate on unpaid taxes climbs back to 7% on July 1
Taxpayers who owe the IRS back taxes will see the cost of carrying that debt rise on July 1, 2026, when the agency’s underpayment interest...
The average tax refund hit $3,268 this season, about 8% bigger than last year
Tens of millions of American taxpayers received fatter refund checks this spring, with the average payment climbing to $3,276 through early May, an 11.5 percent...
Social Security checks go out June 10, 17, and 24, set by your birth date
Millions of Social Security recipients will see their June 2026 payments land on one of three Wednesdays this month, with the exact date determined entirely...
IRA contributions jumped 29% to a record last quarter, with two-thirds of the money going into Roths
Americans poured money into individual retirement accounts at a record pace during the first quarter of 2026, with contributions climbing 29 percent year over year....
Buyers of new American-built cars can now deduct up to $10,000 a year in loan interest — even if they take the standard deduction
Millions of car buyers who finance a new vehicle assembled in the United States can now subtract up to $10,000 in annual loan interest from...
The $600 Venmo tax-form rule is dead — payment apps now report to the IRS only above $20,000 and 200 transactions
Millions of people who sell goods or accept payments through Venmo, PayPal, Cash App, and similar platforms no longer face the prospect of receiving a...
Adding a bank account to your free IRS online account is the fastest way to avoid weeks of refund delay this year
Millions of taxpayers filing returns this year face a new procedural step that could mean the difference between receiving a refund in days or waiting...
The Social Security wage base climbs to $184,500 in 2026
Workers earning above $176,100 will see a bigger bite from their paychecks starting in January 2026. The Social Security Administration set the taxable wage base...
The Roth IRA income cap rises to $168,000 for single filers in 2026
Single and head-of-household filers earning up to $168,000 in modified adjusted gross income will be eligible to contribute to a Roth IRA for tax year...
Required minimum withdrawals start at age 73, and skipping one can trigger a penalty of up to 25%
Retirees who turned 73 in 2025 or later face a steep federal penalty if they fail to pull money from traditional IRAs and workplace retirement...
Workers aged 60 to 63 can put an extra $11,250 into a 401(k) this year through the super catch-up
Workers who turn 60, 61, 62, or 63 this year can stash up to $11,250 in additional catch-up contributions into their 401(k) plans, a provision...
Social Security’s 2.8% raise adds about $56 a month — but a $17.90 Medicare Part B premium hike claws back nearly half
Retirees counting on a bigger Social Security check in 2026 will find that a simultaneous Medicare premium increase eats into nearly a third of the...
Retirees under full retirement age can earn up to $24,480 in 2026 before Social Security starts holding back benefits
Workers collecting Social Security before they hit full retirement age face a hard earnings ceiling in 2026: $24,480. Every dollar earned above that line triggers...
The IRS will now freeze your tax refund if you don’t have direct deposit on file
Millions of individual taxpayers who file returns without valid bank account details will see their refunds temporarily frozen starting in the 2026 filing season. The...
The IRA contribution limit rose to $7,500 for 2026
Workers saving for retirement got a concrete, if modest, boost when the IRS set the annual individual retirement account contribution limit at $7,500 for 2026,...