Tax

The Pension Benefit Guaranty Corp. is facing a $54 billion deficit for insuring multiemployer plans in unionized industries, says the GAO report.

Submitting taxes can be a stressful time for employers and employees. Here’s how advisers can help them make sure they are prepared this year.

If the client makes a mistake, they are advised to take the RMD as soon as they discover it so they can ask the IRS for a waiver of the penalty.

Those who signed up in the past year will get a smaller pension than they would under the old system, but they can expect additional benefits from the tax-advantaged Thrift Savings Plan.

The sandwich generation is struggling to save for its own needs, and when you add in family demands, it paints a "grim picture," an expert says.

Retirement plans may decline to offer delayed RMDs, plan loans, stretch and hardship distributions and a host of other legally sanctioned tax maneuvers.

Although the test is complicated and misunderstood, eliminating it could “do more harm than good,” according to an expert.

The cap on state and local tax deduction under the tax law may prompt more employees to direct their retirement savings to their 401(k)s than to build home equity.

Although more taxpayers are expected to use the standard deduction, they can still claim the tax deduction for IRA contributions.

Although earnings in a deferred annuity will not be included in an investor's adjusted gross income, future withdrawals from the annuity could trigger a bigger tax bill.