A Chapter 7 debtor did not forfeit bankruptcy protection for $66,000 held in a Merrill Lynch individual retirement account by granting a lien to the financial institution to cover potential future debts, the 6th U.S. Circuit Court of Appeals has ruled in reversing judgment.
An IRA that a debtor inherited from her mother was not exempt from creditors’ claims in her bankruptcy case, the 7th U.S. Circuit Court of Appeals has ruled in reversing judgment.
When the U.S. Supreme Court ruled on the health care law late last month, the decision upholding the individual health insurance mandate made headlines.
But lost in the details and unknown to many was the 3.8 percent surcharge tax on net investment income set to take effect Jan. 1, 2013.
An ERISA plan could use an insured’s rollover of pension benefits into an individual retirement account to justify the reduction of his long-term disability benefits, the 9th Circuit has ruled in affirming judgment.
The Internal Revenue Service has proposed new rules that would allow IRA holders to receive partial annuity options.
An unreported retirement distribution related to an inherited individual retirement account is taxable, regardless of the taxpayer’s maneuver to obtain the funds through a trustee-to-trustee transaction, the U.S. Tax Court has ruled in upholding a $13,600 deficiency assessment.
An inherited IRA is exempt from the beneficiary’s bankruptcy estate, a U.S. Bankruptcy Court in Arizona has ruled.
The putative beneficiaries of an individual retirement account are subject to a mandatory arbitration agreement executed by their father when he opened the account, the Oregon Court of Appeals has ruled in reversing judgment.
A man who murdered a woman remained the designated beneficiary on her IRAs for federal tax purposes – even though a state slayer law prevented him from receiving any distributions from the accounts, the IRS has concluded in a private letter ruling.