Our tax law is overly complicated. Many of its laws have exceptions, and sometimes those exceptions have exceptions. If you are a DIYer and rely upon the IRS’s published materials to prepare your tax … [Read more...] about What? The IRS does not follow its own publications?
IRS Tax Planning Ideas, Tips & News
IRS Terminates Equifax Contract
The Internal Revenue Service has its issues. Nobody will deny that. After Equifax announced one of the largest security breaches ever, the IRS announced in September that it signed a $7.25 million … [Read more...] about IRS Terminates Equifax Contract
Traditional IRA Converted to Roth IRA – Watch Your Step
A taxpayer recently informed us that he did a Roth conversion. After completing the conversion, he asked if the IRS could “undo” the conversion under the “step transaction” doctrine. As a side note, … [Read more...] about Traditional IRA Converted to Roth IRA – Watch Your Step
Revocable Trust vs. Irrevocable Trust
Financial planning includes periodically meeting with an experienced estate tax attorney to ensure that one’s estate plan is current and meets the objectives of the individual. When meeting with legal … [Read more...] about Revocable Trust vs. Irrevocable Trust
Are You Are Being “Liked” by the IRS
Eric Sorensen of WSU News has reported that “The next time you want to tweet something about how much you hate paying taxes, or what you did with your huge tax refund, you might want to rethink it.” … [Read more...] about Are You Are Being “Liked” by the IRS
The Cost of Borrowing from Your 401(k) Plan
If your employer has a 401(k) plan, the plan likely has a provision that allows you to borrow from the plan. Although the plan will charge you interest on the amount borrowed, the repayment of the … [Read more...] about The Cost of Borrowing from Your 401(k) Plan
