Borrowing From Your 401(k)?

{3:07 minutes to read} A recent court case demonstrates the need to pay very close attention to the procedures for a repayment of a 401(k) loan, and that there is no “reasonable cause” exception when a taxpayer fails to make a 401(k) loan repayment. 

Borrowing From Your 401(k) by Susan Moussi

In Frias, T. C. Memo. 2017 – 139, July 11, 2017, an employee left for maternity leave on July 30, 2012, to have her third child. Here are the facts of the case: 

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When is a Joint Return Not a Joint Return?

When is a Joint Return Not a Joint Return? by Susan Moussi

{2:21 minutes to read} The tax court recently ruled on a case complicated by a divorce that was in-process at the time of filing. The lack of clarity, in this case, resulted in time, aggravation, and expense for both parties—highlighting the need for clear and indisputable documentation.

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SIMPLE Plans This Fall?

SIMPLE Plans This Fall? by  Susan Moussi

{2:22 minutes to read} Fall is in the air, and so a reminder about establishing SIMPLE plans, notifying employees, and making elections. SIMPLE plans are easy to set up, have a lower start-up and annual costs, and are simpler to operate in that there is no annual reporting. Employees decide how much to contribute, and the employer can choose one of two matching options.

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Organizing Tax Documents? Remember—Statements, Not Screenshots

{1:37 minutes to read} InformationOrganizing Tax Documents? Remember—Statements, Not Screenshots by Susan Moussi seems to be available at the touch of a screen or click of a mouse. If one wants to know the balance in an account, in a brief moment, one can quickly pull up the summary on their desktop or smartphone. 

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