Retirement

Financial stress rates for U.S. workers are among the highest they have been over the last five years, as workers contend with greater financial burdens and debt, according to a new survey by PricewaterhouseCoopers.

The Labor Department finalized an amended version of its fiduciary rule, providing wealth management firms a lengthier timeline for implementation as well as more relaxed requirements for the best interest contract exemption.

Joe DeSilva of ADP explains how accountants can help their small business clients set up a retirement plan, in an interview with Dan Hood of Accounting Today.

Many forward-thinking companies are giving their employees access to financial wellness services to help them make sense of their finances.

The American Institute of CPAs is asking the Treasury Department to provide tax relief to the cross-border savings accounts of U.S. and Canadian citizens.

Ernst & Young LLP has introduced eFinancial Wellness, a financial planning and financial education service for small to midsize businesses.

Congress’s passage of legislation last December making many expired tax breaks permanent adds an extra measure of certainty for tax preparers helping their clients with tax planning this year.

A large number of important tax changes go into effect this year. Many were ushered in by the Protecting Americans from Tax Hikes (PATH) Act of 2015, although legislation enacted earlier in 2015 and in 2014 also contributed a fair share. Still other changes are the result of various administrative pronouncements by the IRS.

Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, along with a group of other Senate Democrats, have introduced legislation to make the Saver's Credit into a refundable tax credit to help more working families and middle-class Americans save for retirement.

President Barack Obama will propose allowing small businesses to more easily pool 401(k) plans, in the hope that more Americans will adopt a crucial tool to save for retirement.

The Financial Accounting Standards Board has issued two proposed accounting standards updates to improve financial reporting by employers related to defined benefit pension and other post-retirement benefit plans.

Former billionaire entrepreneur Samuel Wyly told a federal judge that he filed for bankruptcy to avoid burdening his children with a $2 billion claim by the Internal Revenue Service.

Lyle Benson of L.K. Benson & Co., who chairs the AICPA's PFP section, discusses why elder planning is both a significant client need and an opportunity for CPAs.

Elevating your clients’ experience during tax season

Many individuals in the United States have IRA accounts. These retirement accounts may be substantial and are often the target of financial planners who are interested in handling and managing the IRA assets, for a fee, of course. This is big business for financial planners.

December 31 is the last day for small business owners to open and start funding a 401(k) plan, and there are many tax benefits in a 401(k) that accountants should discuss with their business clients before the year is over.

Helping clients make minimum distributions go further

As 2015 comes to a close, taxpayers are once again facing uncertainty as Congress has yet to act on a host of important provisions that expired at the end of 2014.

The budget deal passed by Congress last month included a provision that would end some Social Security claiming strategies used by couples.

The American Institute of CPAs and the National Association of State Boards of Accountancy have proposed to create a “Retired-CPA” status to deal with the wave of Baby Boom retirees in the profession.