The IRS provides resources to people who have recently retired or who are planning to retire. The resources can help taxpayers with challenges and tips to prepare for retirement.
Here are some links with information for retirees.
- “The Individual Arrangement FAQs – Withdrawals” answers basic questions about retirement account withdrawals: https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-distributions-withdrawals.
- “Publication 915” provides an in-depth look at Social Security and Equivalent Railroad Retirement Benefits: https://www.irs.gov/pub/irs-pdf/p915.pdf.
- “The Interactive Tax Assistant” provides answers to questions about taxes on Social Security and Railroad Retirement Tier I Benefits: https://www.irs.gov/help/ita/are-my-social-security-or-railroad-retirement-tier-i-benefits-taxable.
- “Publication 575” discusses pension and annuity income: https://www.irs.gov/forms-pubs/about-publication-575.
- “Publication 590-B” examines distributions from individual retirements accounts: https://www.irs.gov/forms-pubs/about-publication-590b.
- “Retirement Topics” delves into required minimum distributions: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds.
- “Publication 721” is a tax guide to U.S. civil service retirement benefits: https://www.irs.gov/forms-pubs/about-publication-721.
- “Retirement Savings Contributions Credit” explores eligibility for credits for contributing to retirement accounts: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit.
Other details may apply, and you can find more information on the IRS website.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax advisor.
Tip adapted from IRS.gov