I’m in my 70s and doing Roth conversions, but I’m not sure I’m doing it right
It’s not just readers who are confused about the best way to do Roth conversions.
Taxes
News and advice on how to minimize your tax liability in retirement
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Elderly couple ripped off by daughter takes a $400,000 tax hit on the stolen $2 million
Congress eliminated the theft-loss deduction for defrauded taxpayers beginning in 2018. Tax attorneys want this protection restored.
Some retirement catch-up contributions are about to get taxed — these organizations want to delay that
The group behind the letter said there were many 'administrative hurdles' to implementing the new catch-up rule
Did you inherit an IRA? IRS offers some breathing room on how much you can withdraw this year.
IRS waives the penalty if heirs do not to take a 2023 required minimum distribution for an IRA inherited in 2020, or later.
IRS collects $38 million from ‘delinquent millionaires’ — and it’s just getting started
'These are just wealthy people that owed tax debts and weren’t paying them back,' IRS Commissioner Danny Werfel said.
My inherited investment accounts have lost $28,000. Can I liquidate them and take a tax write-off?
Different accounts have different tax rules, and Tax Guy is here to sort it out.
I need some cash, can I borrow from my IRA?
IRAs give you complete freedom to get money whenever you want it. The tricky part can be the taxes.
‘I cannot accept this as an alternative for working families’: Americans could see big changes to their standard deduction
The debate between Republicans and Democrats over the standard deduction, a widely-used measure to reduce taxable income, is heating up.
My ex-husband died and I inherited his Roth IRA. Why am I being taxed on it?
You should have been taking RMD based on your life expectancy.
IRS funding may be slashed in debt-ceiling deal. Is that good news for taxpayers worried about audits?
The IRS was initially poised to receive $80 billion over a decade -- then came the debt-ceiling agreement.
Americans can now put a lot more in health savings accounts. Here’s how much they can invest.
Contributions to health savings accounts increase at steepest level since HSAs were first rolled out in 2004.
Most Americans aren’t happy with how much income tax they paid this year
Tax fairness and tax burdens are front-and-center, as a fight over the soon-to-be-expiring Trump tax cuts looms.
Secure 2.0 doesn’t do enough to help savers—here’s how to fix it
Most of the 92 provisions in the new law 'do not help workers struggling to accumulate adequate retirement savings'
IRS will launch free tax-filing pilot in 2024. TurboTax, H&R Block and Republicans are opposed.
The IRS will receive $80 billion in funding over the next decade. Of that, Congress earmarked $15 million to study an IRS free tax-prep service.
IRS explores offering a free tax-filing service. What could go wrong?
The IRS is examining if it can pull off a free, online tax-preparation service.
IRS commissioner admits Black taxpayers appear to be audited at outsized rates
The head of the Internal Revenue Service acknowledged Monday racial disparities in how tax returns are treated by the agency.
I took out a 401(k) loan but am changing jobs. What do I do now?
When a loan is not paid off, the outstanding balance is treated as a distribution.
You should always max out your 401(k) contribution, right? Not if taxes go up.
With steeper tax rates expected in coming decades, traditional advice deserves another look.
TurboTax will soon pay a $141 million settlement for ‘deceptive marketing.’ Will you be receiving a check?
Intuit, which owns TurboTax, admitted no wrongdoing in the case.
