Tax Policy Center

IRAs

Individual Taxes: TaxVox

The Good, The Bad, And The Ugly In The Retirement Savings Bill Congress May OK This Week

The spending bill congressional leaders agreed to early this morning creates significant new incentives for retirement savings and broadly eases rules for withdrawing funds. Like...
December 20, 2022Howard Gleckman
Individual Taxes: TaxVox

IRA and 401(k) Contribution Limits Are Increasing. That’s Great News If You Are Rich

In response to the recent burst of inflation, the IRS is raising contribution limits for the full range of retirement savings accounts. That’s great news...
November 4, 2022Howard Gleckman
Individual Taxes: TaxVox

Delaying Required IRA Distributions Again Would Largely Help Only The Wealthy

The House Ways & Means Committee is once again tinkering with the law that requires retirees to take minimum distributions from their individual retirement accounts...
May 5, 2021Howard Gleckman
Individual Taxes: TaxVox

The Trump Administration Is Looking At Tax Breaks And Other Ways To Boost Private Long-Term Care Insurance

The Trump Administration is (very quietly) looking at ways to reinvigorate the flagging private long-term care (LTC) insurance market. The recommendations are expected to surface...
May 24, 2019Howard Gleckman
Individual Taxes: TaxVox

Individual Retirement Accounts Should Be For…Retirement

The House and Senate unveiled similar bipartisan retirement savings bills this week. Among the differences: The House bill would let you use IRA funds for having a baby.
April 4, 2019Howard Gleckman
Individual Taxes: TaxVox

Treasury Should Review IRA Minimum Distribution Tables But Changes Would Help Few Seniors

President Trump last week asked the Treasury Department to review the rules surrounding Required Minimum Distributions (RMDs) for traditional Individual Retirement Accounts and 401(k) plans...
September 7, 2018Howard Gleckman
Individual Taxes: TaxVox

How economists eliminate taxes on your retirement income

Let’s face it. Economists just see the world differently than everybody else. Take, for example, the question of whether Individual Retirement Accounts are tax-free or...
June 15, 2016Lydia Austin
Business Taxes: TaxVox

The Rich get Richer, with a Little Tax Help

Renaissance Technologies, an investment manager, is once again showing how to aggressively manipulate the tax system for its own benefit. This time, Renaissance is helping its owners/employees (who are some of the wealthiest individuals in the country) to shelter tens of millions of dollars in tax-
June 22, 2015Steven M. Rosenthal
Individual Taxes: TaxVox

Marco Rubio Wasn't the Only One Who Cashed Out an IRA Last Year

It is easy to mock Senator Marco Rubio, who cashed out $68,241 in IRA retirement funds last September. The GOP presidential hopeful, who made about $230,000 last year, told Fox News he needed the dough to prepare for his campaign, buy a new $3,000 refrigerator, and fix his busted a/c. As it happens
May 26, 2015Howard Gleckman
Individual Taxes: TaxVox

A Small But Important Change in Retirement Savings Rules

Earlier this year, the Obama Administration proposed a small and almost unnoticed change in retirement savings rules that could be a big help to middle-income seniors who want to preserve assets to pay for medical and long-term care costs in very old age. The proposal would exempt those who have $
April 27, 2015Howard Gleckman