In 2001 Congress enacted a law allowing the IRS to waive the 60 day IRA rollover requirement, “where the failure to waive such requirement would be against equity or good conscience, including casualty, disaster, or other events beyond the reasonable control…
Tons of people have set up IRA LLCs. The theory is that since they are the beneficiaries of the IRA they are indirectly the owners of the IRA LLC and the assets inside of the LLC. There is another belief…
Its a tale as old as time. You’re fresh out of college and trying to figure out what to do with your life. There are a lot of opportunities, but you follow your parents advice and decide to get a…
When you owe the IRS money they can pretty much come after any asset that you own. That includes your retirement plan assets. As verification of that fact, the IRS issued a new memo for Revenue Officers (IRS collectors) reminding…
Can your 401k be taken away if you file bankruptcy? As a general rule, 401ks are protected in bankruptcy. The bankruptcy code has 2 different key sections that will protect your 401k funds. The first section is 541 of the…
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 is they typically grant the 2nd chance so long as you haven’t done anything wrong…
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 problem? Think again. Recently I read an article that was summarized a speech by Robert…
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 but just confirms what a lot of people are trying to deny. Here’s an interesting…