Retirement

The Internal Revenue Service has issued final regulations allowing pension recipients to split their benefits between both monthly annuity payments and a lump sum.

We all use the cliché that we give the clients the best we've got, but what does it really mean?

Guiding your clients into and through their post-work life

The Internal Revenue Service unveiled a new procedure Wednesday to help people who accidentally miss the 60-day time limit for rolling over their retirement plan distributions into another qualified retirement plan or individual retirement account.

Employer anxiety about offering you a 401(k) plan is rising rapidly, and for potentially good—and expensive—reasons. Class-action lawyers are targeting a wider variety of alleged breaches of fiduciary duty in retirement offerings and suing a broader range of entities, including college and university 403(b) plans.

Longer lives and the prospect of weaker investment returns mean millennials will probably have to save more money, over a longer period of time, than their parents and grandparents.

With the start of school just around the corner, taxpayers should be aware of the following tax breaks and deductions available for qualifying expenses, according to the audit defense service TaxAudit.com.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

Many taxpayers have multiple Individual Retirement Accounts and 401(k) accounts, and as the baby boom generation enters its retirement years, more clients than ever are going to need advice from a tax professional about how to handle the complicated rules for required minimum distributions from the accounts once they finally retire.

Tax practitioners and their baby boomer clients are beginning to cope with a monumental financial and tax event—the onset of required minimum distributions from traditional IRAs and qualified plans.

A torrent of money has started to flow from the IRAs and qualified plans used by over 77 million U.S. baby boomers to save for retirement.

For some accountants, the only QDRO they will see will be part of their own divorce decree. But for many others, advising on QDROs is a part of their practice.

Your tax practice may be opening you up to liability

Retirement plans are often considered strategic advantages for businesses, yet many small businesses do not offer their employees 401(k) plans. As an accountant, this is a discussion you can have with your business clients, to help them understand the value of retirement plans and how they can build upon the success of their company.

Changes affecting qualified retirement plans

What the IRS giveth, the IRS taketh away. At age 70½, the bill comes due on all those tax-deferred savings accounts we’ve been building, and this week the oldest baby boomers will begin to reach that finish line—with many millions more to follow.

The Internal Revenue Service has issued guidance on whether payments from a qualified retirement plan during a phased retirement are considered an annuity.

Two new surveys highlight the differing financial situations of older and younger adults.

Last month, the U.S. Department of Labor issued the final fiduciary rule, which significantly affects advisors who render investment advice to Individual Retirement Account owners.

The Internal Revenue Service has released final regulations for disbursements from Roth individual retirement accounts, removing the allocation rule for disbursements from designated Roth accounts to multiple destinations.