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When Can you withdraw money from you IRA account?
can be withdrawn without ten percent IRS penalty after age 59 1/2
Can you take out money from your IRA for your own business?
Penalty free? No
How long does it take a beneficiary to receive money from an IRA policy?
few weeks
What is the difference between Roth IRA and a traditional IRA?
A Roth IRA is funded with after-tax money and you do not pay taxes when you withdraw the money. A Traditional IRA is funded with pre-tax money and you pay taxes when you withdraw the money.
What is a liqued IRA?
is a liquid ira money available to you
Can the IRS take your 401k or IRA check for back child support in Georgia?
No, the IRS does not have the legal power to take such action.
Does IRS tax regular IRA distributions?
Yes, IRA distributions are taxable. You do not pay tax while the money is in the account, but you pay tax when you withdraw the money.
When Can you withdraw money from you IRA account?
can be withdrawn without ten percent IRS penalty after age 59 1/2
What are the IRA contribution limits?
You can find the current IRA contribution limits on the IRS website (at www.irs.gov). You can also ask at your local IRS office (you can find the address on the IRS website or in your phonebook)
If you have an IRA can they take money from it when you go into bankruptcy?
IRA's are exempted personal property. Creditors can not touch this money to pay debths.
Did the IRS take money that was sent to you from a money transfer?
sometimes
Can you open a ROTH IRA with an IRS TIN?
yes
Can you take out money from your IRA for your own business?
Penalty free? No
Can a nursing home take money from an IRA for payment of bills?
no
Can IRA be seized for default student loan?
No. The only two ways an IRA touchable is by your spouse or the IRS. Debt collectors can bluff and threaten you but don't give in. IRA is as safe as the gold in Fort Knox except spouse and IRS
How long does it take the irs to take there money you owe them Will my tax refund be offset even though the irs process my tax return?
Yes if you owe the IRS money your tax refund will be offset, and usually if they are aware that you owe them money, they will offset it immediately.
How can a bank take your IRA and send it to Indiana unclaimed money when the IRA does not come due for 3 years?
The bank should not take your money and send it to Indiana's unclaimed funds division on an active IRA. Send a letter to the bank requesting information on why this was done. It may be that there is a clause requiring them to turn the money over to the state if the IRA is inactive for a certain period of time.
