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The extended tax-filing deadline gives many Americans extra time to contribute to certain investment accounts for 2020.

On the eve of this year’s Kentucky Derby, the first of three races a horse must win to grab racing’s Triple Crown, the Biden tax proposals are underscoring the triple crown of tax advantages provided by Roth conversions.

Here’s an update to my earlier article on IRS’s interpretation of how the SECURE Act 10-year rule will work for beneficiaries of individual retirement accounts. I am now 100% convinced that the idea of annual required minimum distributions under the 10-year rule was an IRS error that will soon be corrected.

The May 17 deadline for filing 2020 taxes is swiftly approaching.

If you haven’t filed your taxes yet, it’s time to start.

The term “self-directed IRA” can be confusing, given that account owners choose whichever stock or mutual fund they want to buy within their IRA, and how much to purchase and how much to sell.

Ed Slott is a nationally recognized IRA distribution specialist, professional speaker, television personality, and best-selling author. He is known for his unparalleled ability to turn advanced tax strategies into understandable, actionable, and entertaining advice. This is the most interesting conversation we’ve ever had about taxes. 

In this episode of Human Capital, Ed Slott of Ed Slott & Co. relays important tax advice related to potential changes to the stepped-up basis and estate tax, and also warns that the potential boosting of the required minimum distribution age to 75 is likely “useless,” and that lawmakers may actually be “creating a bigger problem” with such a change.

Two tax and retirement specialists say a recent IRS publication has thrown IRA inheritance planning into chaos, but that advisors shouldn’t make changes just yet.

Congress passed several relief bills to ease the financial burdens on struggling American workers during the pandemic. A provision of The Coronavirus Aid, Relief, and Economic Security Act allowed workers of any age to withdraw up to $100,000 penalty-free from their company-sponsored 401(k) plan or individual retirement account in 2020.

If you are working with an eye towards retirement or even semi-retirement, you are probably (hopefully) saving more than you could in the past in your retirement accounts. You may have paid off the mortgage and paid for college and other heavy expenses of raising children. That all sounds like you are on your way, except for one big problem I call the "ticking tax time bomb."