returns

Interest Rates Are Low Until You Do the Math

Posted on 05/1/2014 by |AARP Blog Author | Comments

Money & SavingsI often hear that interest rates are awful and that it’s the worst time ever for retirees needing to live on fixed income. Yet when you look at after-tax, inflation-adjusted returns, a different picture emerges. Many people smile when I tell them that back in 1980 they could have earned 12 percent on a 10-year U.S. Treasury or certificate of deposit (CD). Depositing $10,000 would have returned $1,200 a year. But if a third went to taxes, that gain would …

It’s Tax Day! Don’t Forget to File

Posted on 04/15/2014 by |Senior Editor, Money Team | Comments

Money & SavingsIf you’re rushing to get your taxes done before today’s midnight deadline, take some comfort that you’re not alone. The Internal Revenue Service expects to receive about 35 million returns in the last week or so before the filing deadline. At this point, the time for most moves to lessen your tax bite is long over, although even on this deadline day you may have one more opportunity. It’s still possible to make a 2013 contribution to a deductible individual retirement …

IRS: Someone Will Be With You … Sometime Today

Posted on 02/17/2014 by |Money and Work | Comments

Money & SavingsHello, IRS? Is anyone there? That’s what you might be asking if you call the IRS with questions about your 2013 tax return. The agency says today starts one of the busiest weeks of the tax filing season for the IRS phone lines. So make yourself comfortable and settle in. You’re likely to be on hold longer than the 17.6 minutes customers waited last year to speak with someone. You think that’s bad? Some 20 million people, or 39 percent …

Need Help from the IRS? Don’t Hold Your Breath

Posted on 01/10/2014 by |Washington Watch | Comments

Bulletin Today | Money & SavingsHave tax questions or problems? You probably shouldn’t expect much in the way of help from the IRS these days, according to the latest report from the Taxpayer Advocate Service, an independent organization within the agency. Some of the major findings: The IRS no longer helps elderly, disabled and low-income taxpayers prepare their annual returns. Ten years ago it prepared 476,000 such returns. Only 61 percent of calls to the IRS from taxpayers wanting to speak to someone were answered, …

Want Returns of 50% or More? Don’t We All.

Posted on 09/23/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsEven in this rock-bottom interest-rate climate, three of four Americans over the age of 65 rely on investments to help maintain their fixed income. So the appeal by hucksters who promise higher-than-average returns (think Bernie Madoff) may even be more enticing. Financial fraudsters know this. They also know that older adults have a lifetime of earnings to pluck from. That’s why they’re more likely to target adults 65 and older than younger people, using direct mail solicitations and the old-fashioned …