IRS Form 1098-C

Whenever a non-profit organization receives a donation of a motor vehicle, boat, and/or airplane that has a value of more than $500, they are required to file a Form 1098-C with the IRS. These forms must be filed on an official printed version that is scan-able by the IRS. You can obtain these forms by …

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DOL Guidance on Missing Participants

In a previously issued blog titled “Have lost Participants in your 401(k) Plan?”, the topic of missing participants was addressed prior to the Department of Labor (DOL) issuing any guidance on fiduciary responsibility of plan sponsors in that respect. The guidance issued by the DOL in Field Assistance Bulletin (FAB) No. 2014-01, outlines fiduciary duties …

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Henry+Horne gives back at the Phoenix Zoo

Last year I was fortunate to participate in Henry & Horne ’s first firm-wide community service event. It was at the Florence Crittenton campus in Phoenix, Arizona. Florence Crittenton provides shelter, education, counseling and social support to nearly 2,000 girls, ages ten to twenty-one. Our three offices in Scottsdale, Tempe, and Casa Grande joined together …

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Different Types of Distributions on a 401(k) Plan

If your company has a 401(k) plan, one of the areas to understand is if your plan allows for different types of distributions, what they entail, and some key items to note regarding each type. The main types of distributions are hardships, termination/rollovers, and in-service. Hardship distributions Not all plans allow for hardship distributions; however …

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