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TN Form 668-W(c)(DO): What You Should Know

IRS Seizing Your Pension Plan? — Baker Donelson Aug 31, 2024 — IRS seizure of pension plans in the form of Forms 8606(3) or 8606(5) is not a new threat to our retirement security. With regard to this type of plan, some  benefits may be taxable (you don't want your pension to qualify as a taxable investment, for example).  However, if you are aware that an IRS seizure is  going to be the case, you might want to avoid selling shares of the company while the seizure is  being conducted, as this could result in significant losses of the company's pension plan. IRS Seizing your Retirement Savings Plan? — Baker Donelson Jul 28, 2024 — Here is the latest IRS threat to retirement savings:  Congressman Dave Brat's bill to eliminate the Alternative Minimum Tax (AMT), which  eliminates the tax break for income taxed at a rate below zero (taxpayers) or zero (unmarried couples filing jointly).  The Republican majority passed a provision in tax reform that would make the repeal of the AMT permanent, while keeping the provisions that would allow AMT filers to continue filing as individuals, but eliminate the ability to convert from the AMT to the Alternative Minimum Tax. You could save over 2.

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