IRS
Federal · District of Columbia, United States · 10K+ Employees
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Overview
Headquarters
1111 Constitution Ave NW, Washington, Di...Phone Number
(202) 622-5000Website
www.irs.govRevenue
$16.5 BillionIndustry
About IRS
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Chief Procurement Officer
Chief, Talent Strategy, Office of the Chief P...
Deputy Chief Procurement Officer
Chief Procurement Officer, Area
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IRS News & Media
She Pulled Cash From His $900,000 401(k) at 51 With No 10% Penalty. The One Divorce Rule That Waives the Under-59½ Tax the IRS Enforces on Everyone Else.
Divorcing spouses under 59½ can legally pull cash from a 401(k) without the IRS penalty that applies to everyone else, but the exception operates inside a narrow window that most people unknowingly close before they ever reach it.The “QLAC”: Move $210,000 of Your IRA Into This One Account and the IRS Stops Counting It for RMDs Until You’re 85.
The IRS has a rule that lets traditional IRA owners quietly quarantine a portion of their balance so it vanishes from the RMD calculation entirely, and most retirees have never heard of it.The State Took His Land at 63 and Wrote Him a Check. Social Security Looked Away. The IRS Did Not.
When the state forces a six-figure land sale on a 63-year-old retiree, Social Security shrugs at the check while the IRS and Medicare quietly start doing math that could reshape his finances for years.She Retired at 64 With $380,000 in a 401(k) and No Income for Nine Years. She Never Converted a Dollar. Her First RMD Was Taxed at 22%.
Nine gap years between her last paycheck and her first required withdrawal gave her a legal window to move money at the lowest tax rates she would ever see. She left every one of those years untouched, and the bill that arrived at 73 reflected exactly that choice.
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Frequently Asked Questions Regarding IRS
Founded in 1862, The Internal Revenue Service (IRS) is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury and is under the immediate direction of the Commissioner of Internal Revenue. The IRS is headquartered in Washington D.C.... Read More