Individual retirement accounts include traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. Traditional and Roth IRAs are funded by the individual owner. SEP IRAs are funded by employers. SIMPLE IRAs are generally funded by employers and employees. Special tax rules apply to these accounts.
The IRS has provided a voluntary correction program (VCP) Submission Kit for plan sponsors who failed to adopt a new Pre-Approved Defined Contribution Plan by
The Department of Treasury and Internal Revenue Service (Service) invite public comment on recommendations for items that should be included on the 2016-2017 Priority Guidance
Definition A my retirement account (myRA), is a type of Roth IRA. With a few exceptions, the myRA bears features that are identical to a
Tax court says that 72(t) additional tax (early distribution penalty) is not deductible. T.C. Memo. 2016-15- Robert Leon Martin v. Commissioner
QCD Extended under H.R. 5771: Tax Increase Prevention Act of 2014 (the 2014 “Tax Extenders” bill) extended the qualified charitable distributions (QCD) provision to December
by Denise Appleby The IRS issued private letter ruling (PLR) 201437023, allowing an IRA custodian to treat IRA contributions as received ‘timely’, if instructions are submitted
In the update Hot off the Presses: IRA Rollover Rule Changes Coming, we highlighted a recent Tax Court interpretation of the one-per-year rule for IRA-to-IRA
