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
Extra Help can wipe out most Part D drug costs for lower-income seniors, yet many never apply
Millions of lower-income Medicare beneficiaries qualify for a federal program that can eliminate most of their prescription drug costs, yet they have never filed an...
The average 401(k) balance slid 4% to $141,000 after this year’s market swings
Millions of American workers opened their first-quarter 2026 retirement statements to find smaller numbers. The average 401(k) balance dropped roughly 4% to $141,000 after a...
A qualified longevity annuity lets you delay some required withdrawals and lock in income at 80
Retirees who turn 73 and face their first required minimum distributions now have a concrete way to shrink those forced withdrawals: move up to $200,000...
Keeping three to five years of spending in bonds lets retirees ride out a stock-market slump
Retirees who depend on portfolio withdrawals face a direct threat when stock prices fall sharply in the first years after they stop working. The risk,...
Workers who stay on the job past 73 can delay required withdrawals from that employer’s 401(k)
Americans who keep working past age 73 have a tax advantage hiding in plain sight: they can postpone required minimum distributions from their current employer’s...
$615 is Medicare’s new Part D drug deductible for 2026, up from $590
Medicare beneficiaries filling prescriptions in 2026 will face a higher upfront cost before their drug coverage kicks in. The standard Part D deductible rises to...
Social Security’s taxable wage cap rose to $184,500 for higher earners this year
Higher-earning workers in the United States will see a larger slice of their paychecks subject to Social Security payroll taxes starting this year. The taxable...
Rolling an old 401(k) into an IRA can cut fees and unlock far more investment choices
Workers who leave a former employer’s 401(k) plan untouched often pay higher fees and accept a narrower menu of investments than they would in an...
A free IRS Identity Protection PIN blocks crooks from filing a tax return under your Social Security number
Anyone with a Social Security number or Individual Taxpayer Identification Number can now request a free six-digit code from the IRS that stops fraudsters from...
High earners pay a bonus Medicare surcharge based on income two years back
Medicare beneficiaries with higher incomes are paying hundreds or even thousands of dollars more per year in Part B and Part D premiums, and the...
$2,000 in cash donations now cuts your tax bill even if you skip itemizing
Married couples who take the standard deduction can now trim their federal tax bill by up to $2,000 simply by giving cash to charity, a...
Social Security will now waive an overpayment of $2,000 or less without a drawn-out fight
Millions of Social Security beneficiaries who receive overpayment notices for small amounts will no longer need to file formal paperwork or prove financial hardship to...
Itemizers can now deduct charitable gifts only above 0.5% of their income, a new 2026 catch
Millions of taxpayers who itemize deductions on their federal returns will lose the ability to write off smaller charitable gifts starting with their 2026 filings....
The “rule of 55” lets you tap your current 401(k) penalty-free if you leave that job at 55 or later
Workers who leave their job at 55 or older can pull money from that employer’s 401(k) without paying the 10 percent early-distribution penalty that normally...
A one-time six-month window after you turn 65 lets you buy any Medigap plan without health questions
People turning 65 and enrolling in Medicare Part B get exactly one chance to buy a Medigap supplemental insurance plan on their own terms. Federal...
Heirs who inherit stock or a home get the value reset, erasing decades of capital gains
Families who inherit appreciated stock or a home often owe far less in capital-gains tax than the person who originally built that wealth would have...
Treasury bills pay interest that’s completely exempt from state and local income tax
Investors in states like California, New York, and New Jersey can keep every dollar of Treasury bill interest out of their state and local tax...
8% a year is what your Social Security check grows for every year you wait past 67
Americans born in 1960 or later who reach full retirement age at 67 face a straightforward but high-stakes math problem: every year they delay collecting...
A 10% lifetime penalty hits your Medicare Part B premium for every year you sign up late
People who miss their first window to enroll in Medicare Part B face a permanent surcharge: a 10% increase to the monthly premium for every...
Lower-income savers can claim up to $1,000 for funding a retirement account
Workers earning modest incomes who put money into a retirement account can reduce their federal tax bill by as much as $1,000 per person, or...