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
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,...
Medicare’s new $50 weight-loss drug benefit could cost taxpayers billions, analysts warn before its July 1 launch
Starting July 1, 2026, millions of Medicare beneficiaries will be able to fill prescriptions for GLP-1 weight-loss drugs at a flat $50 per month, a...
Any taxpayer can lock scammers out of their tax refund with a free six-digit IRS identity-protection PIN
Every year, refund fraud costs taxpayers time, money, and peace of mind when someone files a bogus federal return using a stolen Social Security number...
Social Security’s full retirement age finally reaches 67 this November for everyone born in 1960 — and claiming at 62 locks in a 30% smaller check for life
Americans born in 1960 will turn 67 starting this November, completing a four-decade phase-in that raises Social Security’s full retirement age to its final statutory...
Workers 50 and older who earn more than $150,000 must now make their 401(k) catch-up contributions in a Roth, with after-tax dollars
Employees age 50 and older who earned more than $150,000 from their employer in the prior year can no longer make pre-tax catch-up contributions to...
Medicare will cover Wegovy and Zepbound for a $50 copay starting July 1, its first obesity-drug coverage in over 20 years
Millions of Medicare enrollees with obesity will be able to fill prescriptions for Wegovy and Zepbound at a flat $50 monthly copay starting July 1,...
The IRS shut down its free Direct File program for the 2026 tax season, ending government-run filing in 25 states
Taxpayers in 25 states who filed their federal returns for free through the IRS Direct File program will not have that option when the 2026...
The IRS pays 8% interest on any federal refund delayed past 45 days — the rate just reset for Q3 2026, and the agency owed billions to late filers
If your federal tax refund is late, the IRS is paying you 8% annual interest on every day it keeps your money past a 45-day...
Form 5498 quietly reports every IRA contribution to the IRS each May — it’s the form that proves your basis and stops the IRS from taxing you twice in retirement
Every spring, a one-page tax form lands in the mailboxes of IRA holders across the country weeks after they have already filed their returns. Most...
SECURE Act 2.0 forces most non-spouse heirs to drain inherited IRAs within 10 years — but spouses, minor children, and disabled beneficiaries can still stretch withdrawals
A 52-year-old marketing director in Dallas inherits her late father’s $600,000 traditional IRA. Under rules that would have applied a decade ago, she could have...