What if you knew for certain that you'd have enough income and savings over the next two decades to pay all your expenses, but only three-quarters of your bills in the years after that?
That's essentially the status of our ... more

U.S. Social Security is sliding to insolvency at an increasing rate and Medicare is stable but ultimately untenable, Social Security and Medicare trustees said.
"Lawmakers should not delay addressing the long-run financial challenges facing Social Security and Medicare," the trustees ... more

What does preparing your taxes have in common with getting a nose job? Both are a lot less painful if they're done right the first time.
This year, though, there are myriad possibilities for tax-filing errors that are more than ... more

Dear Phil: Are you ever too old to pay taxes, and if I don't receive 1099s about owing them do I still have to pay taxes? - W.H., Tulsa.
Some of the smartest people have big misunderstandings about taxes. Income taxes ... more

As if being unemployed were not bad enough, many people who were out of work for all or part of 2011 are discovering they may face even more challenges when it comes to filing an annual tax return.
"I've seen ... more

So much for a "kinder, gentler IRS." That went out years ago, tax experts say.
The Internal Revenue Service continues to ramp up the number of tax liens and levies it files against taxpayers, despite a high number of Americans ... more

Last year, nearly 35 million taxpayers e-filed their income tax returns from home computers and do-it-yourself online tax preparation is one of the fastest growing ways people are getting their taxes done. Do-it-yourself computer tax preparation and e-filing grew 8 ... more

You'll face a higher tax bill when you fill your 2012 return next spring if Congress doesn't act to revive this series of expired tax breaks:
-- Alternative minimum tax patch. Taxpayers whose income exceeds the AMT exemption -- in ... more

Last year, as a debate over the runaway national debt gathered steam in Washington, Social Security passed a treacherous milestone. It went "cash negative."
For most of its 75-year history, the program had paid its own way through a dedicated ... more

This year, the deadline for filing your federal tax return is April 17. Taxpayers get an extra two days to file because April 15 is a Sunday and April 16 is Emancipation Day in Washington, D.C., so the IRS will ... more

There's an old adage: If Congress does nothing, lawmakers can't do any damage. We may want to rethink that.
Now that the supercommittee is but a memory, the whole Congress needs to take up the deficit-reduction conundrum. Democrats may see ... more

QUESTION: How exactly do required minimum distributions from my retirement accounts work?
Anyone who has reached age 70 must take a required minimum distribution, or RMD, from their retirement accounts in order to remain compliant with the tax code.
You ... more