Top Tips on Making IRA Contributions
If you made IRA contributions or you’re thinking of making them, you may have questions about IRAs and your taxes. Here are some important tips from the IRS about saving for retirement using an IRA.
Businesses With IRS Qualified Retirement And 401k Plans Must Amend Their Plans Before 12/31/14 To Include Coverage For Same-Sex Couples.
Today, the IRS issued Notice 2014-19, which provides guidance on how qualified retirement plans should treat the marriages of same-sex couples following the Supreme Court’s decision in United States v. Windsor. The Windsor decision invalidated Section 3 of the 1996 Defense of Marriage Act (DOMA) that barred married same-sex couples from being treated as married under federal law.The notice: … Read more
IRS Rules Bitcoins Are Property And Not Currency For U.S. Federal Tax Purposes
IRS Notice 2014-21 provides that a virtual currency, such as “Bitcoin”, will be treated as property for U.S. federal tax purposes. Therefore, general tax principles that apply to property transactions apply to transactions using virtual currency. Among other things, this means that: For additional information contact the law offices of AttorneyBritt. Further details, including a set … Read more