The Widow Penalty: The Tax Bill No One Warns You About

When a spouse dies, most surviving partners expect grief. They don’t expect the IRS to come calling. Yet the “widow penalty” is a very real and often overlooked consequence of losing a spouse, one that can leave a surviving spouse paying thousands more each year in taxes and Medicare premiums at the very moment they’re trying to rebuild their life.

Here’s what it is, who it affects, and what you can do now, while there’s still time to plan. Read more…