If you have recently changed jobs, one important step is to rollover retirement savings from a company sponsored 401(k) plan into an Individual Retirement Account or Roth IRA.Last week, the Internal Revenue Service issued new rules that allow you to roll any after-tax...
Month: September 2014
Congress may extend mortgage relief for principal write-downs
Homeowners with underwater loans face the possibility of a large tax bill if they obtain a principal reduction through a deal with their lender, a foreclosure or a short sale in 2014. Congress recently returned from its summer vacation and now many wonder whether...
Surprised by an IRS audit? Innocent spouse relief may help
Often in a marriage, one spouse handles the majority of the finances and gets the taxes done each year. The other spouse may just sign on the line. If a later audit shows that a spouse or former spouse failed to report income or overstated deductions, you could...
IRS takes closer look at fringe benefits in company audits
Technology employers have been known to offer the benefit of free meals to encourage collaboration and also longer hours. While not all employers go to the extent of free meals, most do offer coffee, tea and the occasional gift card as perks to improve...