IRS, Taxes, Identity Theft and Solo 401(k) Plans

This IRS notice is specifically intended to assist tax payers with curbing as much as possible identity theft concerns.   The IRS has taken pro-active steps in working with State Departments of Revenue, tax software providers and tax preparers so these entities can greater assist tax payers with theft identity warning signs.  We all know that in the world of identity theft, we can all be negatively affected, with the criminals trying to access our personal, business and even retirement account information.  This can affect those of us who have Solo-K plans (also marketed as a Uni-K, self-directed 401(k), self-administered 401(k), one-participant 401(k)).

This notice hones in on the following subjects:

1)  Computer Security

2)  Phishing and Malware

3)  Protecting Personal Information

Take a minute to read as it is a quick read.  This area of concern negatively affects everyone and the IRS, like many well-intentioned people, are trying to assist all tax payers do what they can to reduce or eliminate their potential risk to cyber criminals.

As always, the information provided is intended to be educational nature.  It is not intended, nor should it be interpreted as, any form of tax, legal, financial or investment advice.  One must always consult with their respective professional in all such matters.