Does the IRS approve of Roth IRA LLCs?
Did you know that if you mess up your IRA rollover the IRS has a process where you request a second chance? The great part… Read More »Does the IRS approve of Roth IRA LLCs?
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IRS wait times
Have a slight problem with your self directed IRA? Self directed 401k? Think you can call the IRS and get a quick answer to your… Read More »IRS wait times
Prediction: IRS will launch a full scale audit attack on self directed IRAs
Today was a big day in the IRA world. First off the Department of Labor came out with their proposal for fiduciary standards. In theory… Read More »Prediction: IRS will launch a full scale audit attack on self directed IRAs
Privacy of Self Directed IRA Investments is disappearing
One of the dirty little secrets about self directed IRAs is that most of their owners have made a mistake or two with the investments.… Read More »Privacy of Self Directed IRA Investments is disappearing
Guarantees and prohibited transactions for IRAs
Tax Court released a new ruling saying the mere act of guaranteeing the assets of an IRA is a prohibited transaction. Nothing really new here… Read More »Guarantees and prohibited transactions for IRAs
GAO to audit IRA Valuations
Tax Notes Today is reporting that the director of tax issues for the GAO announced on C Span that the GAO has accepted a formal… Read More »GAO to audit IRA Valuations
Limit Audits on your 5500 filings
At a recent conference an IRS employee talked about what are some of the triggers for an audit of a form 5500. The various triggers… Read More »Limit Audits on your 5500 filings
IRS: 75% error rate on W2s
What do you think would be a major warning that something is too complex? How about if you told people how to do something, offered… Read More »IRS: 75% error rate on W2s
Self directed IRA prohibited transaction rule gotchyas
Was reading a case today where the Department of Labor was saying an individual violated his fiduciary responsibilities by amongst other things, loaning money to… Read More »Self directed IRA prohibited transaction rule gotchyas
Thrift Savings Plans are subject to IRS Levy
Have a thrift savings plan with the government? Running behind on your taxes? Bad news, President Obama just signed a bill that specifically allows the… Read More »Thrift Savings Plans are subject to IRS Levy