Internal Revenue Service
16 articlesReaders can find profile updates, product changes, official notices and comparison notes tied to IRS tax forms, IRS audit notices and IRS tax credits, with attention to IRS retirement limits, IRS taxpayer assistance and IRS withholding rules when those details affect costs, rights, exposure or timing.
New Treasury Proposal Narrows Trump Account Investment Choices for Kids
A new Treasury and IRS proposal would restrict Trump Account investments for 7 million children to just five low-cost index ETFs, raising questions about fees, risk, and flexibility as families weigh these accounts against 529 plans and other options
IRS Sets New Overtime Deduction Rules for 2026 Tax Filings
The IRS has clarified how overtime tax deductions will work for 2026, shifting reporting responsibility to employers and setting clear limits on what workers can claim. Here's what hourly employees and business owners need to know before next tax season
Mark Cuban's Wealth Tax Clash Exposes California's Billionaire Dilemma
California's proposed 5% one-time tax on billionaire wealth is fueling a fierce debate between Mark Cuban and lawmakers, raising questions about liquidity, startup growth, and the risk of driving high-net-worth residents out of the state
Most Roth IRA Savers Miss Annual Contribution Cap, IRS Data Shows
IRS data reveals that over 70% of Roth IRA contributors did not reach the 2023 annual limit, with average contributions peaking at $4,504 for those ages 60-64. Learn why many fall short and how habits and income affect retirement savings
Americans Say You Need $2.3 Million to Be Wealthy, But It's More Than Income
A new survey finds Americans believe $2.3 million is the threshold for wealth, but factors like debt, net worth, and retirement savings play a bigger role in financial security than income alone
Coca-Cola Outpaces Pepsi as U.S. Shoppers Keep Buying Soda
Coca-Cola's latest earnings show strong U.S. demand for its drinks, even as PepsiCo blames weaker consumer spending for its own slowdown. The split reveals how company strategy, not just the economy, shapes results in the consumer staples sector
How IRMAA Can Add Thousands to Your Medicare Costs in Retirement
Many retirees are surprised by Medicare surcharges tied to income from two years prior, with some couples facing nearly $12,000 in extra annual costs. Learn how IRMAA works, who is affected, and what steps may help reduce the impact
Georgia Lottery Winners Claim $2 Million and $150,000 Prizes in July
A Georgia Lottery ticket sold in Martinez delivered a $2 million windfall, while a Fantasy 5 player in Sylvania matched all five numbers for $150,000. These wins highlight the unpredictable but real financial impact of lottery games
Roth IRAs See Fewer Owners but More Active Contributions Than Traditional IRAs
While only about 25% of U.S. households own a Roth IRA, twice as many taxpayers contribute to Roths each year compared to traditional IRAs, with younger savers especially drawn to their tax-free withdrawal benefits
7 States With Tax Breaks for Retirees
Retirees can keep more of their income in certain states that offer exemptions on Social Security, pensions, and military retirement pay-while nine states skip income tax entirely, affecting how far retirement savings stretch
Vanguard's $111,000 IRA Move Lets Retirees Sidestep New Tax Limits
Retirees face new hurdles on charitable deductions in 2026, but a little-known IRA strategy allows them to give more to charity while avoiding higher taxes and Medicare premium surcharges
Gold IRA Fees and Taxes Can Undercut Retirement Gains Fast
Gold's record run has retirement savers eyeing gold IRAs, but high fees, complex rules, and steep tax rates can quietly erode returns-especially compared to lower-cost gold ETFs
Retirement Savings Targets at 59: How Much Is Enough
Approaching age 59 means you're nearing penalty-free retirement withdrawals, but most Americans fall short of recommended savings multiples. See how much you should have saved, what the data shows, and practical steps to close the gap
How High Earners Max Out 401(k) Plans-and Why It Matters
Just 14% of U.S. workers with defined contribution plans reach the annual 401(k) contribution limit, with higher-income earners far more likely to do so. Early, aggressive saving can dramatically increase retirement balances through compounding
Most Retirees Don't Rely on Social Security as Much as Surveys Claim
While many retirees say Social Security is their main income, federal tax data shows only 14% actually depend on it for 90% or more of their retirement income, revealing a gap between perception and reality
How Leaving a Job Can Impact Your 401(k) and Retirement Savings
Changing jobs can trigger unexpected 401(k) moves, forced cash-outs, or automatic rollovers. Learn how balance size, account type, and IRS rules affect your options-and what steps to take to avoid taxes, penalties, or lost investment growth