Don’t make the mistake of glossing over the newest retirement plan rules and regulations going into effect in 2020. The IRS has recently released a variety of new standards that directly (and positively) impact qualified retirement plans, employees, and plan administrators. But administrator...
The move relaxes some of the rules on distributions from retirement accounts and expands the list of reasons for a withdrawal for those affected by the disaster to include food and shelter. But financial advisers say those affected by flooding should exhaust all other options before touching their ...
Social Security for the Suddenly Single can be found on Amazon at this link. This book is narrowly-focused on divorcee Social Security strategies and rules. It is also available in a Kindle version. Sterling’s first book, Lose Weight Save Money, can be purchased by clicking this link. The...
IRS Publication 571 describes various elements of 403(b) plans, including rules about contributions, rollovers, and distributions. A 403(b) account, like a 401(k), is a tax-advantaged retirement account offered by an employer: in this case, public schools and tax-exempt organizations. Be su...
Maybe, but just receiving a letter from the IRS isn’t an immediate cause for alarm. Just because you’ve received a letter from the IRS doesn’t mean you did something wrong. The IRS has been wrong before, and as mentioned above, there are lots of reasons that might cause them to se...
(such as your retirement plans, bank accounts, or other assets). This review of your wherewithal is rigorous. The IRS will impose its will on how you budget – no paying off other debts in advance of the IRS debt, for example. And you may have to give up certain lifestyle items that...