IRS claims $14,000 owed for unreported Social Security income

A taxpayer received an IRS notice demanding $14,000 for failing to declare Social Security benefits as income. The individual vows not to let the government 'walk all over' them and seeks guidance on next steps. This case highlights common tax pitfalls with retirement benefits.

80-year-old weighs using retirement fund for bathroom remodel

An 80-year-old reader expresses reluctance to tap into a $650,000 retirement fund for a bathroom remodel due to economic and political uncertainties. In a MarketWatch column, the individual seeks advice on balancing home improvements with long-term financial security. The query highlights common dilemmas for seniors navigating aging in place.

55-year-old faces tax issues with unfiled returns and crypto holdings

29 Mwezi wa tisa, 2025 Imeripotiwa na AI

A 55-year-old individual who hasn't filed taxes in 20 years is concerned about potential liabilities, especially with $1 million in cryptocurrency assets and an impending layoff. The situation highlights risks of long-term tax non-compliance in the U.S. Financial experts advise immediate action to mitigate penalties.

Breadwinner husband debates Social Security claim at 66 or 70

5 Mwezi wa kumi, 2025 Imeripotiwa na AI

A reader seeks advice on whether her husband, the family breadwinner, should start Social Security benefits at age 66 or delay until 70 for an extra $800 monthly. Financial experts weigh the trade-offs between immediate income and higher lifetime payouts. The decision hinges on life expectancy, health, and family needs.