2010 may be a great time to consider converting your regular IRA to a Roth IRA.  The income limitations have been abolished and you may also elect to pay the tax in 2010 or report the taxable amount over two years in 2011 & 2012.  However, be sure to remember that as of today, the [...]

If you are already or will be over 70 ½ years of age by the end of 2010, you need to be receiving distributions from your IRA account.  The holder of your account should be providing you specific information

If you were retired during 2009, you may have received a $250 Economic Recovery check.  This payment is not taxable.  However, if you are also eligible for the Making Work Pay credit, that credit will be reduced by the amount of your Economic Recovery Payment.

If you made contributions to an IRA, 401(k), government Thrift Savings Plan or other retirement funds, you may be eligible for a tax credit if your Adjusted Gross Income on your tax return is less than $27,750, $55,000 if married or $41,625 if you qualify as Head of Household.

You may be eligible for a $250 credit ($500 if married filing jointly) if you received retirement benefits from a U.S. or state or local government agency and the service was not covered by social security.  You are not eligible for this credit if you received the Economic Recovery Payment through your Social Security, Railroad [...]