WASHINGTON – A new rule proposed by the U.S. Department of Labor would make it easier for trustees of companies in Chapter 7 bankruptcy to distribute assets from its retirement plans.
Taxpayers may be eligible for relief if they made an error in reliance upon a tax professional, according to a recent private letter ruling from the Internal Revenue Service.
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.
Recent statistics indicate that more lawyers than ever are going solo, whether by choice or out of necessity.
What has not changed, say law practice management experts, is that both newbie and experienced solos are not planning for retirement early or often enough.
Lawyers and their clients who chose to convert a traditional IRA into a Roth IRA last year face a deadline in the coming weeks.
Those who wish to re-characterize their Roth IRA back into a traditional IRA have until Oct. 17 to take action.
For years banks have been touting the virtues of so-called reverse mortgages as a way for cash-strapped seniors to tap into the equity in their homes to meet expenses, whether for day-to-day living or to pay for the increased costs of home care.
A Medicaid applicant’s $20,000 payment to her daughter for future caregiver services counted against her eligibility for nursing home benefits, a Massachusetts appellate court has ruled in affirming judgment.
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.