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  • Writer's pictureBrian A. Raphan, Esq.

Life Events That May Have Tax Consequences for Seniors and Retirees

Many significant life events often come with a related tax consequence. Here are some issues that may be facing seniors and retirees with links to more information on their tax impact.


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Planning for Retirement?

  1. Publication 915, Social Security and Equivalent Railroad Retirement Benefits

  2. Publication 554, Older Americans’ Tax Guide

  3. Publication 575, Pension and Annuity Income

  4. Publication 590, Individual Retirement Account

  5. Publication 721, Tax Guide to U.S. Civil Service Retirement Benefits

Mutual Fund Distributions

  1. Publication 4334, SIMPLE IRA Publication

  2. Publication 939, General Rules for Pensions and Annuities

Job Loss or Starting a New Career or Job

  1. Publication 4128, Tax Impact of Job Loss

  2. Publication 531, Reporting Tip Income

  3. Publication 505, Tax Withholding and Estimated Tax

  4. Publication 587, Business Use of Your Home (Including Use of Home by Daycare Providers)

  5. Publication 525, Taxable and Nontaxable Income

  6. Publication 969, Medical Savings Accounts

  7. Publication 463, Travel, Entertainment, Gift, and Car Expenses

  8. Publication 571, Tax-Sheltered Annuity Programs for Employees of Public Schools and Certain Tax-Exempt Organizations

  9. Form W-4, Employee’s Withholding Allowance Certificate

  10. Form W-4(SP), Employee’s Withholding Allowance Certificate (Spanish Version)

Persons with Disabilities

  1. Publication 3966, Taxpayers with Disabilities

  2. Publication 907, Tax Highlights for Persons with Disabilities

  3. Publication 524, Credit for the Elderly or Disabled

  4. Publication 502, Medical and Dental Expenses

Decedents

  1. Publication 559, Survivors, Executors and Administrators

  2. Form 56, Notice Concerning Fiduciary Relationship

  3. Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer

  4. Form 4810, Request For Prompt Assessment Under Internal Revenue Code Section 6501(d)

Divorce or Separations

Marriage

  1. Innocent Spouse

  2. Publication 971, Innocent Spouse Relief

  3. Publication 555, Community Property

Disaster

  1. Publication 547, Casualties, Disasters, and Thefts

  2. Publication 551, Basis of Assets

Moving?

  1. Publication 521, Moving Expenses

  2. Form 3903, Moving Expenses

  3. Publication 530, Tax Information for First-Time Homeowners

  4. Publication 17, Your Federal Income Tax

  5. Publication 523, Selling Your Home

  6. Form 8822, Change of Address

Did You Receive a Notice?

Many people today need more time to prepare their federal tax return. They may want to consider an  for time to file. However, extension of time to file a return does not grant any extension of time to pay a tax liability.

Additional Assistance

News Releases and Tax Tips

Regards,

Brian

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