Posts from October 2016.

A recent case reminds us that people need to be careful when dealing with their retirement plans, particularly if those accounts are used as investment vehicles to fund business activities relating to the plan participant or owner of an IRA or 410(k) plan account. Although for many people their IRA or 401(k) account may appear to be a ready source of capital for launching a second career or finally moving that business out of the garage, if investments involving these accounts are not carefully and thoughtfully structured, adverse income tax consequences and other losses can occur.

On September 26, 2016, the IRS announced its plans for the private collection of certain federal tax debts beginning next spring. The announcement identified the following four (4) contractors that the IRS selected to carry out these collection efforts:

  • CBE Group, 1309 Technology Pkwy, Cedar Falls, IA 50613
  • Conserve, 200 CrossKeys Office Park, Fairport, NY 14450
  • Performant, 333 N Canyons Pkwy, Livermore, CA 94551
  • Pioneer, 325 Daniel Zenker Dr, Horseheads, NY 14845

The origin of this new program can be traced back to IRC § 6306, which was enacted as part of the American Jobs Creation ...

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