Chester County News and Community Website
Now that the calendar has flipped, it’s time for some New Year’s resolutions. You could decide you’re going to exercise more, lose weight, learn a new skill, reconnect with old …
Time for New Year’s Financial Resolutions Read More
The year is nearly over, but you still have time to make some beneficial financial moves — such as “maxing out” on your IRA.
Can You Still “Max Out” Your IRA? Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued a notice to retirement account owners aged 73 and older, reminding them of the deadline to take required minimum distributions (RMDs) …
IRS Issues Reminder on Required Minimum Distributions and Highlights SECURE 2.0 Act Updates Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) is emphasizing the importance of retirement savings for low- and moderate-income taxpayers by reminding them of the benefits of the Saver’s Credit. Designed …
Unlock Tax Savings While Building Your Future: Don’t Miss the Saver’s Credit Benefits Read More
The individual retirement account (IRA) is celebrating its golden anniversary. Created in 1974, this savings vehicle has helped millions of people build resources for retirement. And in 1997, the Roth …
Which IRA Is Right for You? Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced an increase in the contribution limits for various retirement savings plans for the year 2025, marking a continued effort to enhance …
IRS Announces Increased Contribution Limits for Retirement Plans in 2025 Read More
WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service (IRS) recently released new guidance concerning long-term, part-time employees participating in 403(b) retirement plans. These plans, akin …
New IRS Guidance on 403(b) Plans Sets Stage for Future Retirement Plan Regulations Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has released interim guidance under Notice 2024-63, offering clarity for retirement plan sponsors on matching contributions tied to student loan payments. This new …
IRS Issues Interim Guidance on Student Loan-Based Retirement Contributions Read More
During your working years, you know where your income is coming from because you’re working. But once you retire, you’ll have to identify your income sources, know how much you …
Retirees Must Identify and Manage Income Sources Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has introduced new guidelines under Notice 2024-55, providing crucial exceptions to the additional tax on early retirement plan distributions. These rules, effective …
IRS Issues New Rules for Early Retirement Plan Withdrawals in Emergencies and Domestic Abuse Cases Read More