Can Creditors Invade Qualified College Savings Plans?
- Unsecured creditors examine new tax bill. Wise, Jim // Business Credit;Oct93, Vol. 95 Issue 9, p12
Opinion. Discusses tax legislation issues affecting unsecured creditors. Stock for debt exception; Amortization of intangible assets; Opposition of provisions by the National Association of Credit Management (NACM); Omnibus Bankruptcy Bill, S. 540; House Resolution 2121 (HR 2121), the...
- ASK KEVIN. // Jackson Advocate;7/29/2010, Vol. 72 Issue 41, p9A
The article provides an answer to a question of how come creditors are able to write off losses when not paid and get a tax break.
- IRS finalizes OID rules and issues temporary, proposed anti-abuse regs. // Practical Accountant;Mar94, Vol. 27 Issue 3, p10
Reports that the Internal Revenue Service (IRS) has issued final regulations for holders and issuers of debt instruments with original issue discount (OID). Expansion of the definition of variable rate debt instruments; Expansion of put and call rules including permission to use alternative...
- Check Your Credit Report. Gitson-Harper, Lavestia // Tennessee Tribune;7/7/2016, Vol. 27 Issue 27, p9A
In this article, the author offers suggestions regarding tax payments including issue of a 1099-C for the tax year by creditors; listing of amount incorrect; and correcting it with the issuer.
- States move to make 529 plans more user-friendly. Brown, Steve // Employee Benefit News;Aug2004, Vol. 18 Issue 10, p55
Discusses the efforts of state officials to improve 529 college savings plans in the U.S. Impact of the combination of the income tax code and financial aid system of college savings on tax rates for families receiving financial aid; Information on a framework for disclosure included in the 529...
- IN ADDITION. // Regional Today;03/19/2013, p1
The article reports that with other euro zone countries and international creditors imposing a levy on all deposits in the banks of Cyprus on March 16, 2013 as a condition for a 10 billion euros bailout for Cyprus, experts say that the tax looks set to hit Russian pockets hard.
- The yuppie loan. Hewitt, Janet Reilley // Mortgage Banking;Oct97, Vol. 58 Issue 1, p177
Features the loan to value (LTV) second-tier real estate loan product which is fast gaining a foothold among borrowers in the United States searching for a debt consolidation tool with tax advantages of interest deductibility. Allowable 125% loan to value for cash out refinancing scheme; Mego...
- How to Get Out of Debt. Thomsett, Michael C. // Women in Business;Mar/Apr91, Vol. 43 Issue 2, p10
Presents nine steps to getting yourself out of debt. Determining your net worth; Getting rid of unnecessary expenses; Coming up with a payment schedule; Increasing your income; Starting a savings plan; Getting professional help.
- Debt forgiveness. Suarez, Steve // CMA Magazine;Jul/Aug95, Vol. 69 Issue 6, p28
Discusses concerns on debt forgiveness from a tax policy perspective in Canada. Legislation on tax treatment of debts; Hierarchy of provisions that apply to debt forgiveness; Adjustments added to debtor's income.