Last month, the Treasury announced that they were significantly reducing the availability of Series EE and I savings bonds, decreasing the maximum allowable purchase from at $5,000 per Social Security number per year (reduced from $30,000), and the new limits took effect on January 1, 2008!
Continue reading "Government significantly ... »Friday, January 11. 2008
Government significantly reduces availability of savings bonds!
Monday, January 7. 2008
IRS delays for AMT patch may not be as bad as first feared!
Taxpayers awaiting a refund may be delayed in their ability to file early and receive that refund, due to Congress' late passage of an AMT patch - but apparently, the delay won't impact as many taxpayers as first feared.
Continue reading "IRS delays for AMT patch may ... »Friday, January 4. 2008
IRS steps back on non-spouse beneficiary concession!
In its list of required plan amendments for 2008, the IRS has failed to include any mandatory requirement that plans provide for non-spouse beneficiary rollovers to IRAs. This implies a change in position from their Interim and Discretionary Amendments release issued in the fall of 2007, which suggested that the IRS intended to acquiesce in advance of a Congressional Technical Corrections bill that non-spouse beneficiary rollovers from employer retirement plans to inherited IRAs would be mandatory, as covered earlier in this blog.
Continue reading "IRS steps back on non-spouse ... »
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