Retirement planning

Nearly one-third of U.S. adults believe there is a greater than 50 percent chance they will outlive their savings, according to a new survey.

If the beneficiary of a deceased owner of an individual retirement account fails to comply with the post-death required minimum distribution rules and the other post-death IRA distribution rules, then the beneficiary can be subject to penalties from the Internal Revenue Service.

Lyle Benson of L.K. Benson & Co., who chairs the AICPA's PFP Section, discusses the tools that CPA financial planners can use to help clients map out their financial futures, in an interview with Accounting Today editor-in-chief Dan Hood.

In June, the Supreme Court held in Obergefell v. Hodges that “same-sex couples may exercise the fundamental right to marry in all States. It follows . . . that there is no lawful basis for a State to refuse to recognize a lawful same-sex marriage performed in another State on the ground of its same-sex character.”

Lyle Benson of L.K. Benson & Co., chair of the AICPA's PFP Section, discusses some of the key issues that aging clients are facing, such as retirement planning and dealing with dementia, cognitive impairment and divorce, in an interview with Accounting Today editor-in-chief Dan Hood.

The Internal Revenue Service plans to make changes in its determination letter program for retirement plans in an effort to save money.

A new government report urges the Internal Revenue Service to do a better job of educating and notifying taxpayers about provisions of the tax code requiring them to begin taking minimum distributions from their Individual Retirement Arrangements when they reach a certain age, but the IRS responded that it lacks enough money in its budget to do so.

The Internal Revenue Service and the Treasury Department plan to amend the required minimum distribution regulations under Section 401(a)(9) of the tax code to address the use of lump sum payments to replace annuity payments being paid by a qualified defined benefit pension plan.

As your clients’ most trusted adviser, how can you protect them from the financial threat and high costs of long-term care?

The Governmental Accounting Standards Board has published two new standards aimed at improving the accounting and financial reporting by state and local governments for post-employment benefits other than pensions, primarily retiree health insurance.

More than half of Americans admitted to postponing a major life decision, such as enrolling in higher education, retiring or starting a family, because of financial reasons, according to a new poll from the American Institute of CPAs.

Financial fraud perpetrated against the elderly is on the rise, according to a new survey of CPA financial planners.

The Internal Revenue Service has issued proposed regulations to implement a recent federal law authorizing states to offer specially designed tax-favored ABLE accounts to people with disabilities who became disabled before age 26.

The Internal Revenue Service issued a revenue procedure and regulations explaining how a multiemployer defined benefit pension plan that is in critical and declining status can apply for approval of a proposed suspension of benefits.

It’s one of the sweetest employee perks in the hedge-fund world: a chance to invest in Medallion, the wildly profitable fund created by market legend James Simons.

The U.S. Department of Labor proposed new fiduciary rules in April that significantly affect IRA advisors, including accountants who render advice to holders of individual retirement accounts.

U.S. state and local governments will have to report billions of dollars in health-care liabilities on their balance sheets under an accounting change aimed at improving disclosure of retiree benefits.

The Governmental Accounting Standards Board has voted unanimously to approve two new standards that it believes will significantly improve the accounting and financial reporting by state and local governments for postemployment benefits other than pensions, primarily retiree health insurance.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

The U.S. Labor Department’s Employee Benefits Security Administration has released a study criticizing the quality of employee benefit plan audits performed by CPAs, finding that serious deficiencies in 39 percent of the audits are putting the benefit plans and 22.5 million participants and beneficiaries at risk.