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The Securities and Exchange Commission (SEC) Reports Enforcement Results for 2021 and Cryptocurrency and SPACs Among the Named Actions

On November 18, 2021 the The Securities and Exchange Commission (SEC) announced a large increase in enforcement actions compared to 2020. Cryptocurrency and SPAC were seen as emerging threats. For instance, the Commission notes that it charged a company for operating an unregistered online digital asset exchange, charged a crypto lending platform and top executives […]

Mega Backdoor Roth Solo 401k Ban Passes House Hurdle But Senate Sign Off Still Needed

As reported previously, the Mega Backdoor Roth Solo 401k and IRA bans that had been added back to the Build Back Better Act of 2021 were included in the version of the legislation that passed the House today. While this is an important milestone for the legislation, there is still a ways to go legislatively. […]

Back Again! Backdoor Roth and Mega Backdoor Roth Added Back to Pending Reconciliation Bill Build Back Better Act of 2021

Last week in October the Backdoor Roth IRA and Mega Backdoor Roth including the Mega Backdoor Roth Solo 401k had been removed from the Pending Reconciliation Bill Build Back Better Act of 2021. While the new pending legislative text has not yet been released to the public, today, November 3, 2021 the provisions to ban […]

Good News: Backdoor Roth and Mega Backdoor Removed from Pending Reconciliation Bill Build Back Better Act of 2021

Nov. 3rd, 2021: The Proposed Band of the Backdoor Roth & Mega Backdoor Roth is Back–See the following for more Information:  https://www.mysolo401k.net/back-again-backdoor-roth-and-mega-backdoor-roth-added-back-to-pending-reconciliation-bill-build-back-better-act-of-2021/ The latest draft of the Build Back Better Act has good news for IRA and 401k including solo 401k account holders. Essentially, the proposed ban of both the backdoor Roth IRA and mega backdoor […]

On July 29, 2020 the IRS issued a reminder that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers access funds from retirement plans and IRAs

The IRS issued a reminder on July 29, 2020 that retirement account (e.g., solo 401k plans) and IRA account holders affected by COVID-19 may be able to access their retirement funds under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provided they meet one of COVID-19 requirements (see below). The Deadline As the law […]

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