Financial advisers often use their software to run multiple scenarios for clients for planning purposes. The breakdowns they ...

10 Tax Forms Retirees Receive and What They Mean. Knowing what you’re getting and why is important so you can ensure that you or your tax preparer have what’s needed to file your taxes.

Form 1099-R Distributions from Pensions, Annuities, Retirement Plans, and IRAs If you received a distribution of $10 or more from your retirement, pension, or annuity accounts in 2023, the ...

A reporting tool that will prepare Form 8881 “Credit for Small Employer Pension Plan Startup Costs” for tax professionals has been released by Gusto & Guideline. And it works!

Trump's exclusion of an oft-touted Social Security proposal will be highly unpopular but is absolutely necessary.

IRS Form 5329 must be filed by taxpayers who may owe a penalty for breaking the rules regarding tax-advantaged retirement, education, and health savings accounts.

New IRS tax forms for retirement plan payment withholding, effective Jan. 1, 2023. As background, changes made by the Tax Cuts and Jobs Act in 2017 required the IRS to revise the withholding ...

Taxpayers who contribute to qualified employer-sponsored retirement plans, IRAs, or ABLE plans are required to complete IRS Form 8880 to claim the saver’s tax credit.

One way to minimize your taxes in retirement is by moving to a low-tax state. Many states do not tax Social Security benefit. ... Nine other states do not tax most or all forms of income.

Already, many people dread it, but for new retirees, Tax Day can feel even worse. ... “You need to use the worksheet provided by IRS or work with a tax pro who understands these forms. ...