It’s the heat of tax season, plus Jason is working on finishing a manuscript for an upcoming continuing education seminar he is presenting at. Rather than make you wait for new posts, Jason has dug into the archives to pull out some of his personal favorites from days gone by.
This nugget comes from last summer, about a man who was denied a hardship distribution from a retirement plan. He wanted to take the hardship distribution to pay for his dog’s medical expenses. I searched for an update to this story but didn’t see anything new. My guess is his appeal was denied….
From June 7, 2011, I now present:
A Minnesota man plans to challenge the IRS after his request for a hardship distribution from his retirement account was denied. The man wanted to take a distribution to pay for his dog’s cancer treatments. The plan administrator denied his distribution request because IRS guidelines limit the definition of a “hardship” to circumstances such as storm damage, funeral expenses, college expenses, buying a home, or medical bills of yourself or dependents (but not pets).
Read more here.
“This blog post, along with comments that may follow, should not be considered tax advice. Before you make final tax or financial decisions, please secure a professional tax advisor to give you advice about your unique situation. To secure Jason as your accountant, please click on the ‘Services’ link at the top of the page.”