Monthly Archives: January 2019
Revised Family Tax Credits
According to a notice recently issued by the IRS, it will be much easier for taxpayers to obtain a family-based credit after the implementation of the newly revised Child Tax Credit. These revisions were made possible by the tax reform legislation that was passed in December of last year. This law, known as the… Read More »
New Hardship Withdrawal Regulations Proposed
In a preamble to newly proposed regulations that were published in November, the federal government detailed several changes to the tax code that could affect hardship withdrawals in the future. For instance, according to the IRS, taxpayers with 401(k) plans and other employer-sponsored retirement plans, are now permitted to make loans and hardship distributions… Read More »
