News & Articles

New Trade Law Stiffens Penalties for Certain Taxpayers

Posted on Fri, Jul 17, 2015

On June 29, the Trade Preference Extension Act of 2015 (TPE) was signed into law. The TPE mainly focuses on foreign competition and retraining domestic workers. But if you read the fine print, you'll see that it also includes important — but little-noticed — changes to the penalty regime for failing to file required information returns with the IRS and failing to furnish required statements to payees (recipients of payments).

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Tags: EHTC Article, Tax Laws, Newsletter, Penalty Tax, Tax Consequences

IRS Issues Clarification of Once-a-Year IRA Rollover Limit

Posted on Mon, Nov 17, 2014

There have been several twists and turns this year relating to the "once-a-year rule" for IRA rollovers. In the latest move, the IRS has provided additional guidance in the wake of a controversial U.S. Tax Court decision applying the rule to all IRAs owned by an individual. Significantly, the IRS is providing taxpayers with greater flexibility in their year-end tax planning decisions.

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Tags: EHTC Article, Roth IRA, Traditional IRA, Newsletter, Articles, Taxable, Taxes, IRA, Penalty Tax

Can You Have Too Much Money in Tax-Deferred IRAs?

Posted on Thu, Oct 16, 2014

In some cases, individuals reach a point where deferring taxes to the max is counter-productive.

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Tags: EHTC Article, Roth IRA, Traditional IRA, Newsletter, Articles, Taxable, Taxes, IRA, Penalty Tax