In a unanimous decision, the Supreme Court ruled that creditors cannot seize individual retirement accounts in a bankruptcy filing, thereby classing them with pensions, 401(k)s and Social Security, which are afforded protection under bankruptcy law. The case before the court involved a bankrupt couple from Arkansas who were fighting to keep more than $55,000 in retirement savings. Last year, more than 1.6 million people filed for personal bankruptcy, versus 875,000 a decade earlier. Experts say that much of that is being driven by people 55 and older who lose their jobs and can't pay off debts.
-
-
Biden's pitch for a fair Tax Code and Werfel's quest for a digitally transformed IRS are among the key issues to pay attention to after the dust has settled on tax season.
1h ago -
Some remote partners act as a beachhead in new markets, allowing access to clients far beyond a firm's local geography.
1h ago -
The process of becoming a remote partner isn't much different from the traditional path — but it may take a little extra effort.
1h ago -
The Public Company Accounting Oversight Board plans to host a series of five in-person forums this year, with different members of the board visiting cities including Chicago, Los Angeles, Denver, Miami, and Jersey City.
April 17 -
The first class members of the AICPA and NASBA's pilot Experience, Learn & Earn program are completing their inaugural semester.
April 17