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
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The beneficiary form on your 401(k) overrides your will — an outdated one can send your savings to an ex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...
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....