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
Overtime pay up to $12,500 is deductible on 2026 tax returns
Workers who log extra hours can deduct up to $12,500 of their qualified overtime pay on a 2026 tax return, a break that climbs to...
Tipped workers can deduct up to $25,000 of tips on their 2026 return under the new Schedule 1-A
Workers who earn tips can subtract up to $25,000 of that income from their taxable earnings on a 2026 return, using a new IRS form...
Social Security added 14 conditions to its Compassionate Allowances list to fast-track disability approvals
The Social Security Administration added 14 medical conditions to its Compassionate Allowances list on August 11, 2026, expanding the roster of diagnoses that qualify applicants...
Original Medicare covers no routine dental, vision, or hearing, a gap that surprises many new retirees
Original Medicare, the federal coverage that anchors retirement for tens of millions of Americans, pays nothing toward routine dental care, eye exams for glasses, or...
Some states give Medigap enrollees a yearly birthday window to switch plans with no health questions
A handful of states give Medicare Supplement policyholders something federal law does not: a guaranteed yearly window, tied to their birthday, to switch to another...
Medicare caps covered insulin at $35 a month in 2026, with no deductible
A one-month supply of each covered insulin product carries a maximum out-of-pocket cost of $35 for Medicare drug-plan enrollees in 2026, and no deductible applies...
Medicare’s Part D out-of-pocket drug cap rises to $2,100 in 2026, then covered prescriptions cost nothing
Medicare’s annual out-of-pocket ceiling for covered prescription drugs climbs to $2,100 in 2026, a $100 increase over the $2,000 cap that took effect in 2025....
Elevance and Centene have each pulled Medicare Advantage from more than 100 counties as insurers keep retreating
Two of the country’s largest health insurers have each stopped offering Medicare Advantage in more than 100 counties, a retreat that reshaped where older Americans...
UnitedHealthcare’s preliminary 2027 plan would end Medicare Advantage in 34 counties across 12 states
UnitedHealthcare’s preliminary blueprint for the 2027 plan year would pull its Medicare Advantage plans out of 34 counties spread across 12 states, a move that...
Medicaid lets the at-home spouse keep the house and one car when a partner moves into a nursing home
When one spouse enters a nursing home and applies for Medicaid, the couple’s countable savings generally must fall close to $2,000 before the government will...
A new retiree can still collect a full Social Security check in any month they earn under the limit that first year
The Social Security earnings test looks brutal on paper for someone who retires midyear after a high-earning stretch, but a special first-year rule softens it...
Remarrying before age 60 costs a widow her Social Security survivor benefit
A single date on the calendar can decide whether a widow keeps a Social Security check worth hundreds or thousands of dollars a month. Remarrying...
In the year you reach full retirement age, Social Security holds back just $1 of every $3 earned over $65,160
The Social Security earnings test punishes working retirees far less in the year they reach full retirement age than in the years before it. For...
Withdraw a Social Security claim within 12 months and repay what you got, and you can restart later at a higher check
Social Security offers a rarely used reset button for people who claimed retirement benefits too early. By formally withdrawing the original application, a retiree can...
Social Security Fairness Act back pay has averaged $6,710, but a fight over 6 versus 12 months is unresolved
The Social Security Fairness Act has already pushed an average of $6,710 in back pay to more than 1.1 million people, one of the largest...
The $6,000 senior tax deduction disappears after 2028 unless Congress renews it
A tax break worth $6,000 per person for Americans 65 and older is set to vanish after the 2028 tax year, a sunset written into...
Waiting from 62 to 70 to claim Social Security can raise the monthly check by about 77%
Claiming Social Security at 62 instead of 70 can shrink the monthly check by nearly half over a lifetime, because the same worker’s benefit swings...
A defaulted student loan can take up to 15% of a Social Security check, though $750 a month stays protected
Retirees who defaulted on a federal student loan can watch the government skim up to 15 percent off the top of their monthly Social Security...
A new $10,000 car-loan interest deduction lands on 2026 tax returns for buyers of U.S.-built vehicles
A tax break that did not exist a year ago will show up on 2026 federal returns: buyers of new, American-assembled vehicles can now deduct...
A surviving spouse can claim a one-time $255 Social Security death benefit, an amount unchanged since 1954
Among the checks Social Security can send after a death is one many families never collect: a single $255 payment meant to help with the...