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
The $1,000 home EV-charger tax credit disappears after June 30
Homeowners who plan to install an electric vehicle charger at home have fewer than 30 days left to qualify for a federal tax credit worth...
Social Security can now wipe out an overpayment of $2,000 or less with a single phone call if the mistake wasn’t your fault
People collecting Social Security or Supplemental Security Income who receive an overpayment notice of $2,000 or less can now request that the debt be wiped...
The federal pension agency is holding unclaimed benefits for tens of thousands of workers whose companies ended their plans
Tens of thousands of American workers are owed retirement money they may not know exists. The Pension Benefit Guaranty Corporation, the federal agency that insures...
The standard deduction now tops $15,000 for single filers and $30,000 for married couples, so most people skip itemizing
Most Americans filing their 2025 tax returns will claim a standard deduction of $15,750 if single or $31,500 if married filing jointly, amounts large enough...
A historic 2027 Social Security raise is on track — but a bigger check can push more retirees into taxes and higher Medicare premiums
Tens of millions of Social Security recipients could see their monthly checks rise by a historically large amount in January 2027, but the same increase...
Interest on a home-equity loan is tax-deductible only if you use the money to buy, build, or improve that home
Homeowners who tapped a home-equity loan or line of credit to pay off credit cards, fund a vacation, or cover tuition bills lost the right...
Setting up a free IRS online account lets you see balances, past payments, and prior returns in one place
Taxpayers who want a single view of what they owe, what they have paid, and what prior returns show can now get all three through...
If your income dropped after you retired, you can appeal the Medicare surcharge on higher earners and get it lowered
Retirees who saw their income fall sharply after leaving the workforce can ask the Social Security Administration to reduce or eliminate the Medicare surcharge they...
For six months after you turn 65 and enroll in Part B, insurers must sell you any Medigap plan regardless of health
Americans turning 65 and signing up for Medicare Part B get exactly one chance to buy supplemental insurance on their own terms. Federal law gives...
Medicare now caps what you pay out of pocket for prescriptions at $2,100 a year, the first ceiling Part D has ever had
Seniors and people with disabilities on Medicare Part D now face a hard dollar limit on what they spend each year for prescription drugs, set...
Workers with no children can still claim an earned income credit up to $649
Low-wage workers without dependents stand to receive a federal tax credit worth up to $649 for tax year 2025, a benefit that millions of eligible...
The IRS opens walk-in Taxpayer Assistance Centers this Saturday, June 27
Taxpayers who cannot visit an IRS office during the workweek have one last shot at Saturday walk-in service this year. Select Taxpayer Assistance Centers across...
CVS denied 80% of Medicare Advantage long-term-care requests, a federal watchdog found
Seniors enrolled in Medicare Advantage plans run by CVS Health and the two other largest insurers faced denial rates for long-term hospital and rehabilitation care...
Medicare Advantage plans must now honor a hospital’s approval through discharge, with no mid-stay denials
Millions of Medicare Advantage enrollees who end up in hospitals no longer face the risk of having their approved stays pulled out from under them....
$184,500 is where Social Security’s payroll tax stops in 2026; income above it goes untaxed
Every worker earning above $184,500 in 2026 will stop paying Social Security tax on each additional dollar, while everyone below that line pays the 6.2...
Sign up late for Medicare drug coverage and a penalty rides on your premium forever
Medicare beneficiaries who let their Part D drug coverage lapse for 63 days or more face a permanent surcharge added to every monthly premium payment,...
Original Medicare leaves you paying 20% of most doctor bills, with no yearly cap
Millions of Americans on Original Medicare face a cost-sharing structure that charges them 20% of the Medicare-approved amount for most doctor visits and outpatient services,...
10% is added to your Medicare Part B premium for every year you enroll late
Every year that a person delays signing up for Medicare Part B past their initial eligibility window adds a permanent 10% surcharge to their monthly...
Senate Democrats are pushing a $200-a-month emergency boost to Social Security and SSI checks
Senators Elizabeth Warren, Chuck Schumer, and Ron Wyden have introduced legislation that would send an extra $200 per month for six months to people who...
Lose your job at 55? You can tap that 401(k) early without the usual 10% penalty
Workers who lose a job at 55 or older face an urgent cash-flow question: how to cover expenses before standard retirement age without handing the...