If You Are Planning to Retire in the Next 12 Months — The IRS Expects You to Do These 8 Things First

Planning to retire in the next 12 months? Before you hand in your badge, you must complete these 8 specific tasks — or you could lose tens of thousands of dollars in benefits, taxes, and penalties for the rest of your life.

In this critical 2026 retirement guide, June from Retirement Tax and Law Pro walks you through the exact 8 pre-retirement actions the IRS, Social Security Administration, and Medicare expect you to complete before your final day of work. These are not suggestions. These are written into official IRS publications, SSA regulations, and Medicare rules. Miss them, and the penalties can be permanent.

You will learn how to verify your Social Security earnings record, how to file for benefits exactly 4 months before your start date, how to avoid the permanent Medicare Part B late enrollment penalty, the dangerous HSA-Medicare overlap trap that costs high earners thousands, the IRS Form W-4P that protects you from tax surprises, the 60-day rollover disaster that destroyed Robert's retirement, the 2026 catch-up contribution limits, and how to set up direct deposit safely.

Sources cited in this video include IRS Publication 575 (Pension and Annuity Income), IRS Publication 590-B (IRA Distributions), IRS Publication 969 (Health Savings Accounts), IRS Form W-4P, the 2026 IRS contribution limit announcement, SSA.gov retirement application guidance, Medicare.gov Initial Enrollment Period rules, AARP's official 8-step pre-retirement checklist, and Consumer Financial Protection Bureau rules at 31 CFR §212.

WHAT YOU WILL LEARN: The exact 8 pre-retirement steps the federal government expects you to complete How to verify and correct your Social Security earnings record with Form SSA-7008 The 7-month Medicare Initial Enrollment Period and how to avoid permanent penalties The 6-month HSA stop rule that protects you from IRS excise taxes The IRS Form W-4P that prevents pension tax surprises The 60-day rollover trap that has destroyed thousands of retirements The 2026 catch-up contribution limits including the new Roth catch-up rule How to protect your Social Security direct deposits from garnishment

This information is educational and is not legal, tax, or financial advice. Always consult a licensed CPA, fiduciary financial advisor, and your benefits administrator before making decisions about your retirement.

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Видео If You Are Planning to Retire in the Next 12 Months — The IRS Expects You to Do These 8 Things First канала Retirement Tax & Law Pro