Now, a new rule allows you to take up to $2,600 from your 401 (k) this year to pay for long-term care insurance premiums ...

Withdrawing your 401(k) early may offer a way out of a tricky financial situation, but early withdrawals also come with consequences. Discover More: 4 Unusual Ways To Make Extra Money That Actually ...

The Internal Revenue Code generally discourages retirement plan participants from requesting distributions from their retirement plan funds prior to age 59 ½ by imposing an additional 10% tax on those ...

The tax savings opportunities for IRA plans and 401K plans are well known. Not only does the taxpayer receive a deduction for the retirement contribution from their taxable income, but the retirement ...

Seyfarth Synopsis: As previously reported here, on December 20, 2023, the IRS issued Notice 2024-2 (the “Notice”) providing guidance on several outstanding questions related to provisions under SECURE ...

Internal Revenue Code Section 72(t)(1) imposes a 10% additional tax on most distributions from retirement plans and individual retirement accounts before age 59 1/2. However, there are various ...

Once you establish a retirement account, such as an IRA or 401(k), you want to maintain your balances and obtain tax-free growth for as long as possible. When unplanned expenses arise, you don’t want ...

Withdrawing your 401(k) early may offer a way out of a tricky financial situation, but early withdrawals generally come with consequences too. If you withdraw money from your 401(k) before you reach ...