At 62 He’ll Borrow $50,000 From His Own 401(k) for the Roof, Pay Himself Back at 9% Over Five Years, and the IRS Will Never Get to Call It a Withdrawal

Borrowing from your own 401(k) at 62 sounds risky, but one short list of federal rules separates a tax-free loan from a taxable nightmare. Knowing where that line sits could save thousands before the ...

Sell an Inherited Stock the Day After You Get It and the IRS Still Treats the Gain as Long-Term

A retired nurse sold inherited shares the morning after they hit her account and braced for a steep tax bill at ordinary income rates. What her preparer told her next rewrites everything most people ...
Internal Revenue Service

Treasury, IRS update retirement plan correction program and establish correction program for individual retirement accounts

Revenue Procedure 2026-34 PDF expands the Employee Plans Compliance Resolution System and replaces and restructures the Revenue Procedure 2021-30 previously used by employee plan sponsors to make plan ...
Poker News Daily

Poker Winnings Tax in the US: How Winnings Are Reported

Poker winnings are taxable whether or not a Form W-2G arrives. This guide covers IRS reporting, W-2G rules for tournaments, withholding, and the 90 percent loss deduction limit for tax years beginning ...