IRS: Missed 401(K) Loan Repayments Can Be Made Up Without Being Taxed
An Internal Revenue Service (IRS) Chief Counsel Advice memo issued to assist counsel in one of the agency’s regional offices provides two ways missed 401(k) loan payments can be handled without taxing the participant in plans permitting a cure period for such skipped payments. The guidance—while neither a precedent or legally binding—may be beneficial for […]