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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.


As listed by the IRS

Planning for Retirement?

  1. Retirement Savings Contributions Credit (Savers Credit)

  2. Choosing a Retirement Plan: 403(b) Tax-Sheltered Annuity Plan

  3. Resources – IRA Based Plans

  4. Choosing a Retirement Plan

  5. FAQ’s Regarding IRAs

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

  7. Publication 554, Older Americans’ Tax Guide

  8. Publication 575, Pension and Annuity Income

  9. Publication 590, Individual Retirement Account

  10. 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

  3. Credits

Job Loss or Starting a New Career or Job

  1. Publication 4128, Tax Impact of Job Loss

  2. Unemployment

  3. Publication 531, Reporting Tip Income

  4. Withholding

  5. Publication 505, Tax Withholding and Estimated Tax

  6. FAQs regarding Cafeteria Plans

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

  8. Publication 525, Taxable and Nontaxable Income

  9. Publication 969, Medical Savings Accounts

  10. Independent Contractor or Employee?

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

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

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

  14. 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

  1. Did You Know There are Tax Rules for Divorced or Separated Parents?

  2. Publication 504, Divorced or Separated Individuals

  3. Pub 504 (online)

  4. Publication 555, Community Property

  5. Alimony

  6. Child Custody Tax Issues

Marriage

  1. Marriage or Divorce – Check your Social Security Number

  2. Innocent Spouse

  3. Publication 971, Innocent Spouse Relief

  4. Publication 555, Community Property

Disaster

  1. Tax Relief in Disaster Situations

  2. Publication 547, Casualties, Disasters, and Thefts

  3. 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?

  1. Individual Filer Notices

  2. Understanding Your IRS Notice

Filing or Paying Late – Information Taxpayers Should Know!

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

  1. Where to File

  2. Publications Available Online

  3. Which Records Should you Keep?

  4. Help with Technical Tax Questions

  5. Changing Your Address? Notify the IRS

  6. Frequently Asked Tax Questions and Answers

News Releases and Tax Tips

  1. Tax Tips

  2. Latest News

  3. Fact Sheets

Regards,

Brian

The Law Offices of Brian A. Raphan, P.C.

www.RaphanLaw.com

#taxtipselderlaw #elderlaw

MEMBER:

•National Academy of Elder Law Attorneys

•American Bar Association

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•State of New York Unified Court System

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•Temple University • Cardozo Law School NY

•AARP Listed Attorney

The information on this site is not, nor is it intended to be legal advice and does not automatically create an attorney/client relationship.  On negligence and medical malpractice cases we may participate or partner with other counsel with disclosure to potential client before we or such partnering counsel accept the case.           © 2020 Brian A. Raphan, P.C.

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