
Misconceptions About the Still-Working Exception
Retirement account rules are incredibly complicated, and we all have our blind spots. The still-working exception is one of those tricky rules.
Retirement account rules are incredibly complicated, and we all have our blind spots. The still-working exception is one of those tricky rules.
So many private letter ruling requests were submitted over the years that the IRS created a list of 12 items they will typically accept as reasons for missing the rollover deadline.
Many retirement plans base employer contributions on employee compensation. The compensation limit increases most years based on inflation.
The IRS has introduced a new code for the reporting of qualified charitable distributions (QCDs) by IRA custodians on Form 1099-R.
Any distribution from any Roth IRA follows the ordering rules – contributions first, converted dollars second, earnings last.
If you have earnings, you can’t just take out the after-tax contributions to avoid paying taxes on a withdrawal. Instead, a pro-rata rule treats part of your distribution as taxable.
Handling and tracking basis in your traditional IRAs can be challenging, but it is important to get it right.
One of the many 10% penalty exceptions is a 72(t) “series of substantially equal periodic payments.”
After-tax contributions are worth considering as they can significantly boost your retirement savings and can sometimes be funneled into Roth accounts while you’re still working.
There is still time beyond the April 15 deadline. Here are three retirement account moves for the 2024 tax year that are still available to make in 2025.
Wild swings in the market result in sleepless nights for many, but there is a potential silver lining in this storm cloud.
In the 2022 SECURE 2.0 legislation, Congress gave the IRS two years, which have come and gone, to come up with rules allowing IRA owners to fix certain mistakes through self-correction.