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
The federal estate-tax exemption rose to $15 million per person and is now permanent
Families with estates above roughly $13 million no longer face a looming deadline that threatened to cut their federal tax shelter in half. Public Law...
Social Security’s 2027 raise gets locked in this October from summer inflation figures
Tens of millions of Social Security beneficiaries will see their January 2027 payment amounts determined by just three months of consumer price data collected this...
A high-deductible Medigap Plan G lowers premiums for healthy retirees who rarely need care
Retirees on Original Medicare who stay relatively healthy and rarely visit a doctor face a straightforward trade-off when shopping for supplemental coverage: pay higher monthly...
A qualified longevity annuity can shelter up to $200,000 from required withdrawals and pay you later
Retirees and pre-retirees holding large IRAs can now shield up to $200,000 from required minimum distributions by purchasing a qualified longevity annuity contract, or QLAC....
Medicare’s 2027 drug deal cuts prices on 15 top medicines by 38% to 85%, from Ozempic to cancer pills
Millions of Medicare Part D enrollees who depend on treatments for cancer, diabetes, and asthma will pay sharply less starting January 1, 2027, after the...
You can claim Social Security up to four months before you want it
Workers approaching retirement age can file their Social Security applications well before they want monthly checks to arrive, but the window is fixed at exactly...
Retirees can deduct medical costs above 7.5% of income, including Medicare premiums and long-term care
Retirees facing rising Medicare costs in 2026 have a tax tool that grows more valuable as premiums climb: the federal itemized deduction for unreimbursed medical...
The new SALT deduction cap jumped to $40,000, easing income taxes for homeowners in high-tax states
Millions of homeowners in states with steep property and income taxes gained a significant federal tax break when the SALT deduction cap quadrupled from $10,000...
A retiree with a child under 18 at home can collect up to 50% more each month in Social Security for that child
Older Americans raising school-age children can unlock a separate monthly Social Security payment on top of their own retirement check, set by federal law at...
Workers raided their 401(k)s for emergencies at a record 6% rate last year as everyday bills outran their pay
American workers pulled money from their 401(k) retirement accounts to cover emergencies at a record rate of 6% last year, a sign that rising everyday...
Seniors can get taxes prepared free through AARP Tax-Aide and IRS VITA sites
Older Americans living on fixed incomes face real costs when they pay commercial tax preparers to handle returns that include Social Security benefits, pension distributions,...
Eight states still tax Social Security benefits in 2026, though most retirees owe nothing
Retirees in eight states will see Social Security benefits formally included in their state income tax calculations for the 2026 filing season, but layered credits,...
Medicare Advantage plans are set to trim dental, vision and gym perks in 2027 after insurers called their raise too thin
Millions of Medicare Advantage enrollees who rely on dental coverage, vision exams, or gym memberships through their plans face the prospect of losing or seeing...
Who collects Social Security’s $5,181 maximum benefit? Workers who earned the taxable max for 35 years and waited until 70
Workers who earned at or above Social Security’s taxable maximum for at least 35 years and delayed their claim until age 70 are the only...
Turning 65 opens a seven-month Medicare sign-up window you shouldn’t miss
Every year, millions of Americans cross the age-65 threshold and face a federal enrollment deadline that carries permanent financial consequences. The Initial Enrollment Period for...
Social Security now automatically checks every SSI applicant’s bank accounts before approving benefits
Every person who applies for Supplemental Security Income now faces an automated bank account check before the Social Security Administration approves a single dollar in...
You can now pull $1,000 from a 401(k) or IRA once a year for an emergency without the 10% early-withdrawal penalty
Americans who keep retirement savings in a 401(k) or IRA can now withdraw up to $1,000 once per calendar year for an emergency without paying...
Who can get their entire $202.90 Medicare Part B premium paid? Limited-income seniors who join a Medicare Savings Program
Limited-income Medicare beneficiaries facing a $202.90 monthly Part B premium in 2026 have a direct path to getting that entire cost covered by their state:...
Going without Medicare drug coverage adds a permanent penalty of about 1% a month once you finally sign up
Medicare beneficiaries who skip Part D prescription drug coverage and later decide they need it face a permanent surcharge that grows with every uncovered month....
Regret your Medicare Advantage plan? Each year from January 1 to March 31 you can switch back to Original Medicare
Medicare beneficiaries who feel trapped in a Medicare Advantage plan they regret choosing have a federally guaranteed exit window open right now. From January 1...