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Why, then, do so many retirees actually tighten their belts further and reduce their spending in retirement? Based on ...

There's plenty to like about retirement accounts like 401(k)s and traditional IRAs. Both types of accounts allow your ...

As you approach retirement, it’s important to consider how required minimum distributions (RMDs) from your IRA or 401(k) ...

The government offers retirement savers a significant tax advantage when they use certain retirement accounts. Traditional ...

Once you reach a certain age, the government imposes required minimum distributions, or RMDs, on your accounts each year. You ...

The big change this year is that the Internal Revenue Service is ending a grace period for annual withdrawals from certain ...

Listen up, freelancers. If you earn money on PayPal, Venmo, Cash App or another third-party payment app, the IRS will know about it. Third party payment platforms are required to send you a 1099 ...

The IRS kicked off the tax season on Monday, Jan. 27, allowing taxpayers to begin filing their 2024 tax returns. Its free Direct File service, which this year will be available to residents in 25 ...

However, the IRS notes people can still file taxes if their income is below those thresholds because they can still take advantage of some tax credits and may receive a refund. The IRS has other ...

To determine your RMD, the IRS uses a figure called your life expectancy factor (LEF). You'll divide your account balance at the end of the previous year by your LEF, and the result is your RMD.