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
Even as it takes half of regular checks, Social Security still caps SSI overpayment recovery at 10% of the monthly payment.
The Social Security Administration now withholds half of a regular monthly benefit check to recoup overpayments from Title II recipients, yet SSI beneficiaries face a...
A surviving spouse can switch to the larger of two Social Security checks.
A widowed spouse who earned less than a deceased partner over a lifetime of work does not have to settle for the smaller Social Security...
Who qualifies for the new tax break on tips? Workers can deduct up to $25,000 of tip income, starting with 2025 returns.
Millions of tipped workers across the United States can now shield up to $25,000 of their tip income from federal income tax when they file...
Medicare’s Part D coverage gap — the old “donut hole” — is being eliminated for 2027. Drug spending will move straight to the new cap.
Millions of Medicare beneficiaries who take expensive prescription drugs will no longer face a costly middle phase of coverage when buying their medications starting in...
Retirees in the lowest brackets can pay 0% federal tax on long-term capital gains
Retired couples filing jointly can sell appreciated stocks or mutual funds held longer than a year and owe zero federal tax on the profit, provided...
$1,000, or $2,000 per couple, comes back through the Saver’s Credit for funding a retirement account
Low- and middle-income workers who put money into a retirement account can reclaim up to $1,000 on their federal tax return, or $2,000 for a...
You can challenge your property-tax assessment, and many who appeal win a lower bill
Homeowners who believe their property has been overvalued on the tax rolls have a formal right to push back, and official state records show that...
Four senators from both parties are urging Congress to act, warning Social Security’s main trust fund falls short in 2032
Tens of millions of Americans who depend on Social Security face a benefit cut of roughly 22 percent in just six years unless Congress acts....
A free six-digit IRS identity PIN blocks crooks from filing a tax return in your name
Every tax season, identity thieves race to file fraudulent returns using stolen Social Security numbers, often collecting refunds before the real taxpayer even logs in....
$35,000 can move from a 529 college plan into the beneficiary’s Roth IRA over time
Families with leftover 529 college savings can now shift up to $35,000 into a beneficiary’s Roth IRA, but only if the account has been open...
A nonworking spouse can still fund an IRA using the working spouse’s income
Married couples with a single income stream can double their annual IRA savings by using the earner’s wages to fund a separate account for the...
Medicare’s 2027 plan-change notices arrive by September 30, and ignoring yours can leave you stuck in a worse plan
Medicare beneficiaries enrolled in Medicare Advantage or Part D prescription drug plans will start receiving Annual Notice of Change documents this September, spelling out every...
$8,000 in extra 401(k) catch-up contributions is allowed once you turn 50
Workers who turn 50 by the end of 2026 can stash an additional $8,000 in their 401(k) plans on top of the standard elective deferral...
October 15 is the final deadline to file a 2025 return if you took an extension
Millions of taxpayers who requested extra time on their 2025 federal returns now face a single, firm cutoff: October 15. Missing that date exposes filers...
A six-month window after Medigap starts lets you buy any plan with no health questions
People turning 65 and enrolling in Medicare Part B get exactly one protected window to buy a Medigap supplement plan without answering a single health...
Claimed Social Security too early? You can withdraw the application within 12 months and reset
Retirees who started collecting Social Security checks and quickly realized the decision cost them hundreds of dollars a month in future income have a narrow...
$10,000 in interest on a new U.S.-built car loan is now deductible, even without itemizing
Buyers of new, U.S.-assembled vehicles can now write off up to $10,000 in annual car loan interest on their federal tax returns, and they do...
Interest from municipal bonds is exempt from federal income tax
Investors who hold state and local government debt receive interest payments that never appear on their federal tax bill, a benefit rooted in a single...
$108,000 a year can go straight from your IRA to charity, tax-free, after age 70½
Retirees who hold traditional IRAs can now direct up to $108,000 per year to qualifying charities without counting a single dollar as taxable income, provided...
The Credit for the Elderly or Disabled can cut taxes for lower-income seniors
Seniors and retirees living on modest incomes can directly reduce what they owe the IRS through a tax credit that many eligible filers never claim....