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Freeman Law

Tax Court in Brief | Lucas v. Comm’r | Deficiency for Early 401(k) Distribution; 10% Additional Tax; Exclusion for “Unable to...

Freeman Law on

Summary: In 2017, Robert Lucas worked as a software developer, but he lost his job in that year. To make ends meet, he obtained a distribution of $19,365 from a section 401(k) plan. He had not reached 59 1/2 years old at the...more

Stinson - Benefits Notes Blog

Using Your IRA to Buy a Business: Still a Risky Strategy

Stinson - Benefits Notes Blog on

I blogged in the past about decisions in which taxpayers have used assets in their IRA to finance a new business. This structure is sometimes known as a ROBS or rollover for business startups. In 2013, the tax court held that...more

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