Is Your 401(k) or IRA a Sleeping Tax Bear?

Plenty of retirements these days are built in large part by stashing away money week by week into tax-deferred accounts, such as traditional IRAs or 401(k)s, among other options.

And certainly, such accounts can provide a wonderful feeling of confidence, as well as a sense of anticipation, as you watch your money grow and count down the years until retirement.

But be warned: There could be an unwelcome surprise at the end of your retirement-planning rainbow. Don't forget that "deferred" is the key word in the phrase "tax-deferred account." You didn't pay any income tax on the money you deposited in those accounts over the years, so rest assured that when you start drawing the money out to live on in retirement, you will be required to pay taxes on money withdrawn.

In fact,