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
Social Security never tried to withhold benefits from 48 of the 175 people sampled who owed childhood overpayments totaling $216,373, its watchdog found
Social Security never tried to withhold benefits from 48 of the 175 people its own inspector general sampled, even though they owed overpayments from benefits...
About 392,000 Minnesotans lose their Medicare Advantage plan for 2027 and must pick a new one by December 7, which also opens a guaranteed right to buy Medigap
The Minnesota Board on Aging says about 392,000 of the state’s 1.2 million Medicare enrollees will lose their current Medicare Advantage plan for 2027. Open...
Social Security may still owe about $41 million to an estimated 4,785 disabled beneficiaries who filed for a retirement benefit and were paid the wrong amount
The Social Security inspector general estimates the agency may still be able to pay about $41 million to an estimated 4,785 disabled beneficiaries who filed...
Social Security says the average retired worker’s monthly check will be about $2,170 in January, roughly $75 more after the 3.6% raise
Social Security says the average retired worker’s monthly check will be about $2,170 in January 2027, up from $2,095 before the 3.6 percent cost-of-living adjustment....
The White House says the average senior is expected to pay no federal tax on Social Security, but the IRS says the law gives people 65 and older a $6,000 deduction that phases out above $75,000
A White House release dated October 19 carries a bullet labeled “No Tax on Social Security.” It says the average senior is expected to owe...
Eligible Original Medicare Part B enrollees without direct deposit get Trump’s rebate as a Treasury check mailed later this month, and Social Security opened a payment-status line on October 15
The $90 Medicare rebate is reaching one group by mail instead of by bank deposit: eligible people in Original Medicare Part B who have no...
A Treasury watchdog says IRS nonfilers reached 14.7 million for tax year 2022, with $15.7 billion in potential tax stuck in a notice hold
A Treasury Department watchdog counts 14.7 million nonfilers for tax year 2022, people who did not file a required federal return on time. That is...
Twelve insurers are leaving Medicare Advantage for 2027, Becker’s counts from CMS data, among them Aspirus in Wisconsin and iCircle in New York
Twelve insurers are leaving the Medicare Advantage market for 2027, according to a tally by Becker’s Payer Issues drawn from CMS data. They range from...
Unspent SSI and Social Security back payments stay outside the $2,000 resource limit for nine months, and an earned income tax credit refund for 12
Supplemental Security Income recipients who receive a back payment of SSI or Social Security benefits can keep the unspent part outside the program’s savings limit...
The IRS says to photograph or videotape a home’s contents and store copies away from the area at risk, because casualty loss claims depend on proof of value
The IRS tells taxpayers to photograph or videotape the contents of their homes, especially items of greater value, before a disaster hits. It also says...
The IRS gives nine Nebraska counties until February 1 to file, and moves the November 2 payroll return deadline with it
The IRS has pushed back tax deadlines to February 1, 2027, for taxpayers in nine Nebraska counties hit by severe storms that began May 15,...
Indiana veterans rated totally disabled must file State Form 12662 by January 15 to get the full homestead property-tax deduction
Indiana rewrote its property-tax deduction for disabled veterans this year, and the biggest break is not automatic. A veteran with a total disability has to...
Trump signed a new valuation safe harbor for employee stock ownership plans
President Trump signed the Retire through Ownership Act on October 15, adding a new valuation safe harbor to the federal law that governs employee stock...
The IRS moves Florida storm filing deadlines to February 8
Taxpayers in 27 Florida counties hit by Hurricane Isaias now have until February 8, 2027, to file federal returns and pay taxes that came due...
Medigap birthday rules now let policyholders in Virginia and West Virginia switch without health questions, with New Mexico joining January 1
Medigap policyholders in Virginia and West Virginia can now switch to a new supplement policy without answering health questions, and New Mexico adds the same...
Rhode Island drops the full-retirement-age test from its Social Security tax break in 2027, leaving only the income limits, $107,000 and $133,750 in 2025
Rhode Island will stop requiring retirees to reach full retirement age before they can keep Social Security out of state taxable income. The change starts...
The IRS says donations to scholarship groups earn a new federal tax credit from January 1, with 30 states opted in so far
Starting January 1, 2027, donations to scholarship groups can earn a new federal tax credit of up to $1,700 for one taxpayer, or up to...
The IRS gives four Wisconsin counties hit by July storms until February 1 to file and pay
The IRS has moved the tax calendar to February 1, 2027 for people and businesses in four Wisconsin counties. Forest, Outagamie, Vilas and Winnebago counties...
Social Security does not let a met school-plan goal stand on its own as proof a young adult can work, under a ruling applied October 1
A school plan can say a student met a goal and still leave open whether that student could hold a job. Social Security’s new ruling...
Social Security’s watchdog projects more than 469,000 overpayment notices in a single year were missing, inaccurate or lacked the explanation and appeal rights the agency’s own policy requires
Social Security’s inspector general estimates that more than 469,000 overpayment notices in fiscal 2023 were not issued in line with the agency’s own rules. Some...