When one spouse dies, the surviving spouse inherits the same 401(k) balance, though RMD options depend on how the account is ...

For federal income tax purposes, your marital status is determined under state law as of the last day of the calendar year. That matters when choosing your filing status. Your filing status is one of ...

Your yearly tax filing journey begins with one question: Are you Single, Married filing jointly, Married filing separately, Head of Household or a Qualifying Surviving Spouse? Your answer can cost you ...

A surviving spouse filing single faces a federal tax increase of roughly $3,700 annually on identical RMD and Social Security income compared to their married filing jointly status, due to a lower ...

With another tax filing season around the corner, I reached out to Senator Tammy Baldwin and asked her the following question: Why are widows and widowers penalized by the federal tax code?

Losing a spouse brings immense emotional weight and, often, unexpected financial decisions. For many surviving spouses, one of the most complicated and confusing tasks is deciding what to do with the ...

We break down the definitions and eligibility rules for the five IRS filing statuses to help you maximize your refund this tax season. Dawn Allcot is a full-time freelance writer, content marketing ...

A married couple, both 73, holds a traditional 401(k) that has grown to $1.5 million. They collect Social Security. Their tax bill looks manageable. Then one spouse dies, and the survivor faces the ...