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
Substantially equal withdrawals let you tap an IRA before 59½ penalty-free
Workers who leave a job before age 59½ and need income from a traditional IRA face a steep 10% early-withdrawal penalty on top of ordinary...
Still working before full retirement age in 2026? Social Security holds back $1 for every $2 you earn above $24,480
Workers collecting Social Security before they reach full retirement age in 2026 face a direct hit to their monthly checks if their earnings cross a...
Some Medicare Advantage plans pay part of your Part B premium back, putting $50 or more in your monthly check
Certain Medicare Advantage plans are returning a portion of the standard Part B premium directly to enrollees, effectively adding money back into monthly Social Security...
The IRS issued more than 90 million refunds this filing season and processed nearly 139 million returns, its watchdog reported this week
The Internal Revenue Service’s internal watchdog reports that the agency has already processed nearly 139 million individual tax returns this filing season and issued more...
You can claim up to six months of Social Security in one lump sum if you file after full retirement age
Workers who file for Social Security after reaching full retirement age can collect up to six months of benefits in a single retroactive payment, a...
Shingles, RSV and other vaccines now cost Medicare drug-plan members nothing
Millions of people enrolled in Medicare prescription drug plans now pay nothing out of pocket for shingles shots, RSV vaccines, and other adult immunizations recommended...
Roth IRA earnings come out completely tax-free only after the account is five years old and you are 59½
Millions of Americans saving through Roth IRAs expect their investment gains to come out free of federal income tax. That expectation is correct, but only...
Free VITA volunteers prepare tax returns for older and lower-income filers
Thousands of older Americans and lower-income workers face a quiet but costly problem every filing season: they qualify for federal tax refunds but lack the...
The IRS generally has only 10 years to collect a tax debt
Millions of Americans carrying older tax debts face a ticking clock that rarely runs in a straight line. Federal law gives the IRS 10 years...
An old 401(k) can roll into an IRA penalty-free, often cutting fees and widening your investment choices
Workers who switch jobs and leave behind old 401(k) accounts face a quiet but measurable cost: fees that can eat into balances faster than investment...
Anyone can convert a traditional IRA to a Roth, because conversions carry no income limit even when contributions do
High-earning taxpayers who cannot contribute directly to a Roth IRA still have a clear path to get money into one. Federal law draws a sharp...
A new Senate bill would bar Social Security from clawing back overpayments it caused more than 10 years earlier
Millions of Social Security beneficiaries who have been told they owe the government money for overpayments made a decade or more ago could get permanent...
Self-employed workers can deduct up to 20% of their business income before figuring tax
Millions of sole proprietors, freelancers, and small-business owners filing 2025 returns stand to reduce their taxable income by as much as 20 percent of their...
Many states let homeowners 65 and older defer property taxes until the house is sold or the owner dies
Seniors on fixed incomes across at least seven states can legally stop writing property-tax checks, pushing repayment years into the future until the home sells...
Keep working and Social Security recomputes your benefit each year a higher-earning year replaces an old low one
Retirees who stay on the job can receive higher Social Security checks without filing a single new claim. Federal law requires the Social Security Administration...
There is no longer an age limit on funding an IRA, so a retiree with any earned income can still contribute
Retirees who pick up part-time work, freelance gigs, or consulting contracts after age 70 can now put money into a traditional IRA, a right that...
Money moved into a qualified longevity annuity escapes required withdrawals until payments begin, as late as age 85
Retirees holding traditional IRAs or employer-sponsored plans can shield a portion of their savings from annual required minimum distributions by purchasing a qualified longevity annuity...
Check your Social Security earnings record every year, because a payroll mistake can quietly shrink your future check
A single payroll error, left unchecked for a few years, can permanently reduce a worker’s monthly Social Security payment. The Social Security Administration calculates retirement...
Ask the IRS for first-time penalty relief to erase a late-filing fine
Taxpayers who missed the filing deadline and now face a penalty of 5% of unpaid tax for every month the return is late, up to...
Reach full retirement age and you can suspend Social Security to grow each future check 8% a year, up to age 70
Americans who have already filed for Social Security retirement benefits but no longer need the monthly check can hit pause and watch their future payments...