The IRS has announced cost-of-living adjustments affecting dollar limitations for retirement plans and other retirement-related items for tax year 2019.
IRS Reporting Form 5498 “Individual Retirement Information” is used to report IRA contributions and other information. National Life sends 5498 statements to IRA customers during the month of May in accordance with IRS Regulations. Customers should file this statement with their permanent records. (more…)
Yes – Tax Law Changes Can be …Fun…Complicated…. Painful…Beneficial?
New tax legislation gets covered by the popular press almost like a sporting event. Winners and losers. Certain provisions are summarized and get a lot of news, other key provisions are barely reported on. It’s like the old joke: A local news station reported on Moses coming down from the Mount. “Moses came down from the Mount today. He was carrying 10 amendments–the top 5 are…” (more…)