Insta_photos | Istock | Getty ImagesInheriting an individual retirement account can be a welcome surprise. But the gift comes with mandatory withdrawals for heirs and following the rules can be difficult, experts say.According to the Secure Act of 2019, certain heirs now have less time to deplete inherited accounts...
Kate_sept2004 | E+ | Getty ImagesIf you're itching to save more into your 401(k) for 2023, your plan may have a feature that allows you to bypass the yearly deferral limit.For 2023, you can funnel $22,500 into your 401(k), plus an extra $7,500 if you're 50 or older. But...
larryhw | iStock / 360 | Getty ImagesThe annual rate for newly bought Series I bonds could top 5% in November — and there are several things to consider before adding more to your portfolio, experts say. November's rate for new purchases could be higher than the current 4.3% interest...
Demonstrators call for immigration reform near the White House on Feb. 14, 2022.Nicholas Kamm | AFP | Getty ImagesAs the U.S. fertility rate continues to fall, there are growing concerns about the long-term economic impact: A smaller population means less tax revenue, which could reduce funding for programs such...
More from Year-End PlanningHere's a look at more coverage on what to do finance-wise as the end of the year approaches:One reason for more frequent large Powerball jackpots is a 2015 change to the game's matrix, according to J. Bret Toyne, executive director of the Multi-State Lottery Association, which...
If you filed a tax extension for more time on your 2022 return, the deadline is fast approaching.The federal tax extension deadline on Oct. 16 is the last chance to avoid a late filing penalty, according to the IRS. However, some filers in disaster areas may have additional time."The...
The Powerball jackpot soared to an estimated $1.4 billion as of Oct. 6, 2023, according to the Multi-State Lottery Association.Justin Sullivan | GettyThe Powerball jackpot has soared to an estimated $1.4 billion ahead of Saturday night's drawing — and financial experts have tips for the lucky winner.As the third-largest...
Cecilie Arcurs | Getty ImagesThere's a staffing shortage in the accounting industry, and it's not too early to lock in a tax preparer for next season.If you need someone with specialty expertise — such as the employee retention tax credit or cryptocurrency taxes — it may take longer to...
Rep. Jason Smith, R-Mo., speaks during a House Oversight and Accountability Committee impeachment inquiry hearing on Sept. 28, 2023.Jonathan Ernst | ReutersHouse Republicans are pressing the IRS for answers after the agency paused processing new claims for a pandemic-era small business tax break.Lawmakers voiced "continued concerns" about the employee retention...
The Powerball jackpot hit $1.2 billion on Oct. 3, 2023, the third-biggest prize in the game's history.Scott Olson | GettyThe Powerball jackpot has climbed to an estimated $1.2 billion — the third-largest prize in the game's history — without a winner on Monday night.Among the winner's big decisions will...