The IRA provider must file this form every year for every IRA it manages. The form reports the prior year-end fair market value of the IRA, whether any contribution was made to the account for the ...

If you have an individual retirement account, you need to get acquainted with IRS Form 8606 before filing your tax return this year. Failing to file a Form 8606 could result in a $50 penalty unless ...

If you have an IRA, you’ll receive Form 5498 Reviewed by Ebony Howard Fact checked by Vikki Velasquez IRS Form 5498: IRA Contribution Information is a tax form to report Individual Retirement ...

If you haven’t filed your 2020 tax return, are you still dealing with complexities created when RMDs (required minimum distributions) were waived for 2020? RMDs are mandated distributions (withdrawals ...

Yes, IRS Form 5498 is one more form for you to deal with, but it doesn't make your tax life much more complicated. It's a benign, and even helpful, form. What's so great about it? Well, you don't have ...

A trio of IRS forms can lead you astray regarding proper tax treatment of your retirement benefits. Form 5498 for inherited IRA: The first is IRS Form 5498, the "information return" your IRA provider ...

The IRS has announced the cost‑of‑living adjustments for pension plans and other retirement-related items for tax year 2026.

As you read this in early February, your clients are receiving their annual 1099-R forms that report distributions taken in 2020 from their IRAs and other retirement accounts. Once they look the forms ...