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

The Bipartisan Budget Act of 2018 introduced a new tax form for seniors effective for 2019 taxes. Known as the 1040-SR, this form is designed to make filing taxes easier for older Americans ...

The President promised no taxes on Social Security. The OBBBA keeps that promise for some taxpayers. It is not, however, a ...

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.

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.

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 ...

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.

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.

Retirement income isn't taxed in 13 states — meaning residents can avoid paying taxes on distributions from their 401(k), IRA and pension payouts. In even more states, Social Security payments ...

Unlike the saver's credit, which comes in the form of a tax credit on your return, the saver's match goes directly toward retirement savings. "The current law provides this benefit in the form of ...