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
Remarry after 60 and you keep a late spouse’s Social Security survivor benefit.
Widows and widowers who find love again after turning 60 do not have to choose between a new marriage and the Social Security survivor benefits...
$25,000 is the projected 2027 401(k) limit, with $11,750 more for savers aged 60 to 63.
Workers approaching retirement just got a clearer picture of how much they can stash away in the next two years. The 401(k) elective deferral limit...
The IRS will now waive a late-filing penalty automatically for taxpayers with a clean record.
Taxpayers who have filed and paid on time for the past three years will no longer need to call the IRS or submit paperwork to...
$25,000 of tip income is now free from federal tax through 2028 under a new deduction.
Workers who earn tips in restaurants, salons, rideshare vehicles, and other service jobs can now shield up to $25,000 of that income from federal income...
$10,000 of car-loan interest is now deductible through 2028 for buyers earning under $100,000.
Buyers who finance a car on a loan taken out after Dec. 31, 2024, can now write off up to $10,000 a year in interest...
Ohio State’s cancer hospital leaves Humana’s Medicare Advantage network October 1.
Medicare Advantage enrollees who rely on Ohio State University’s Wexner Medical Center for cancer treatment face a hard deadline. Effective October 1, 2026, multiple Humana...
Older Americans not yet on Medicare are paying thousands more for health coverage this year after enhanced ACA subsidies expired.
Adults between 55 and 64 who buy their own health insurance through the Affordable Care Act Marketplace are absorbing sharp premium increases in 2026 after...
The IRS has stopped mailing paper refund checks and will hold your refund until you give direct-deposit details
Millions of taxpayers expecting paper refund checks from the IRS after Sept. 30, 2025, will instead receive a notice telling them to provide direct-deposit details...
A multi-year fixed annuity locks in a set payout, but surrender charges tie up the cash early
Buyers of multi-year guaranteed annuities, or MYGAs, accept a fixed payout rate in exchange for locking up their money, often for six to ten years...
Presbyterian Health Plan is dropping most Medicare Advantage coverage for 2027, forcing 30,000 members to switch
Roughly 30,000 Medicare Advantage members in New Mexico face the loss of their Presbyterian Health Plan coverage heading into 2027, after the regional insurer announced...
Delaying Social Security until 70 usually pays off only if you live past about age 80
Americans born in 1960 or later who wait until age 70 to collect Social Security retirement benefits receive 124% of their primary insurance amount, compared...
Roth IRA withdrawals never count toward the income that lifts Medicare premiums
Retirees drawing from Roth IRAs can spend down those accounts without triggering higher Medicare Part B and Part D premiums, a tax advantage that grows...
Retirement savers hit a record in early 2026, putting 14.4% of their pay into 401(k)s
American workers are saving for retirement at the highest rate on record, directing an average of 14.4% of their pay into 401(k) plans in early...
Choosing the larger single-life pension payout can leave a surviving spouse with nothing
A married retiree who picks the larger single-life pension check each month locks in a benefit that stops the day they die, leaving a surviving...
The federal estate-tax exemption rose to about $15 million per person in 2026
Wealthy families just received a permanent tax break that will keep more of their estates out of the IRS’s reach. Starting with deaths in 2026,...
More than a dozen states tax no retirement income, including Social Security and pensions
Retirees deciding where to live face a direct financial question: will the state tax their Social Security checks, pension payments, or other retirement distributions? More...
A widow can take a survivor benefit first and let her own Social Security grow until 70
Surviving spouses who earned their own Social Security benefits face a high-stakes timing decision that can shift their lifetime income by tens of thousands of...
Long-term-care bills turn tax-deductible once medical costs top 7.5% of income
Families paying for nursing home stays, home health aides, or long-term care insurance premiums can claim those costs as itemized tax deductions, but only after...
Miss your Medicare Part B window and a 10%-a-year penalty can cling to your premium for life
Americans who delay signing up for Medicare Part B face a financial penalty that compounds with every year of inaction and never goes away. Federal...
Claim Social Security, regret it within a year, and you can withdraw the application, repay, and restart for more
Retirees who claimed Social Security benefits too early and now wish they had waited face a narrow federal escape hatch: withdraw the application within 12...