Can The IRS Take Your 401k
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Can The IRS Take Your 401k

Are you wondering if the IRS can take your 401k and other retirement accounts? Let’s look at what the IRS can do and how you can protect your funds.

Why Is The IRS Trying To Take My 401k Or Retirement Money?

Although retirement accounts are protected from creditors, the IRS is an exception. The general rule says if you can get it, the IRS can too. The biggest reason why the IRS may try to levy your 401k, retirement or pension accounts is because you owe back taxes. Essentially, an IRS levy is a seizure of your assets to cover said tax debt.

The IRS will usually send a notice plus demand for payment to be made. If an individual ignores this notice, the IRS will send a final notice of intent to levy. This will be issued 30 days in advance, on average. Before the IRS performs the seizure, they will investigate your assets to see if you have sufficient equity to pay off your back taxes or else the seizure is prohibited.

The IRS can seize all types of retirement accounts, including 401k plans, IRAs and other self-employed plans like SEP-IRAs and Keogh plans. If, for example, your only source of money is taking distributions from money available in retirement accounts, the IRS does expect you to liquidate the account in order to pay off taxes.

Can The IRS Take My 401k If I Owe Taxes?

Yes, the IRS is able to take your 401k account if you are eligible to take distributions from the account. The IRS is unable to take your 401k money if you are restricted from taking money from the account due to age or other restrictions.

Can The IRS Take My Retirement Money If I Owe Taxes?

Again, yes, the IRS can take your retirement money in the event you owe back taxes. Retirement accounts that can be levied by the IRS include the following:

  • IRAs.
  • Keogh plans.
  • SEP-IRAs.
  • Stock bonus plans.
  • Qualified pension plans.
  • Company profit sharing.

Can The IRS Take My Pension If I Owe Taxes?

Your pension is not a protected asset, meaning the IRS can take it. The IRS can also take money from your bank account, Social Security benefits and even your home, depending on how much money you owe. Before performing a levy, though, the IRS will usually give you options to pay the money back.

How To Defend Your IRA And Retirement Accounts

To defend your accounts against an IRS seizure, you must know the IRS can only get what you get. For example, if you can’t access retirement money, neither can the IRS. Many retirement plans deny you access until you retire, take a job with another company, become disabled or pass away.

The IRS cannot force you to terminate your employment, so the as long as you stay employed, the IRS cannot access your accounts. In this case, the IRS will look into your wages/assets to pay taxes you owe. However, if you do have access to your retirement account(s), the IRS does as well.

Whether or not the IRS will take money out of that fund depends on if your conduct leading up to the tax liability was flagrant or not. Flagrant conduct includes such actions as tax evasion, fraud or making contributions while taxes are owed. If you can prove your conduct was not flagrant or that you depend on the retirement money, the funds cannot be levied.

The IRS is typically hesitant to take retirement funds, but knowing how to protect yourself from seizure is crucial. Setting up a plan to pay back taxes is the best way to protect your retirement accounts. You will also have the chance to prove you rely on these funds.

Assisted Living At Vista Winds Located In Peoria, Arizona

If you are doing research about retirement communities in Peoria, Arizona, Vista Winds Retirement Home should definitely be on your list. Vista Winds offers retirement living at its finest. We have a rich calendar of activities, meals prepared by a Chef and caregivers on staff 24 hours a day for your health and safety. We offer award winning independent living, assisted living and memory care services. Come tour our community to see how we are a step above the rest and how easy it is to Make Yourself at Home! Vista Winds is surrounded by amazing views and our resort style property will be sure to impress!

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assisted living
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When Is It Time For Assisted Living?

When is the right time to consider transitioning to assisted living care? Let’s take a look at some signs that an individual is in need of additional care.

How To Know When It’s Time For Assisted Living

When caregivers or loved ones can no longer provide for an individual’s every need, it may be time to consider alternative care options. Assisted living care is a well-known care option available across the nation. Knowing when the time is right to make the transition to assisted living care is crucial. Keep an eye out for the following signs below that suggest alternative care is needed.

Declining Physical Health

Physical declines can be some of the most obvious signs that someone is in need of extra care. Anyone suffering from Alzheimer’s or dementia may appear thin or frail. Physical conditions will quickly worsen whenever someone becomes forgetful about taking the necessary medications.

Behavior Changes

Dementia causes individuals to act differently, sometimes out of nowhere or slowly over time. While some behaviors may go unnoticed in the early stages, other actions can be jarring to loved ones. Closely monitor any alterations in behavior and motor skills. Anyone suffering from dementia can quickly become confused, anxious and even agitated.

Increased Needs

The typical elderly citizen requires some help performing daily tasks. When more assistance than normal is needed, though, it may be time to consider transitioning to assisted living care.

Unsafe Alone

Dementia causes confusion, which can lead to some very unfortunate accidents in and around the home. These accidents can include anything, from leaving the oven on to falling down the stairs. Forgetting to take medications is one of the main reasons why so many opt for assisted living care.

Caregiver Fatigue

This is an unfortunate and all-too-common reality for caregivers and loved ones. The level of commitment to care for a senior can become overwhelming over time. When you are no longer able to provide for every need, it’s time to start thinking about alternative care options.

Assisted Living At Vista Winds Located In Peoria, Arizona

If you are doing research about retirement communities in Peoria, Arizona, Vista Winds Retirement Home should definitely be on your list. Vista Winds offers retirement living at its finest. We have a rich calendar of activities, meals prepared by a Chef and caregivers on staff 24 hours a day for your health and safety. We offer award winning independent living, assisted living and memory care services. Come tour our community to see how we are a step above the rest and how easy it is to Make Yourself at Home! Vista Winds is surrounded by amazing views and our resort style property will be sure to impress!

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How To Help Elderly With Depression
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How To Help Elderly With Depression

How can you help an elderly loved one fight depression? Follow our guide below.

Ways To Deal With Elderly Depression

The elderly experience depression symptoms more than any other age group, unfortunately. Depression can usually occur after retirement when many individuals feel their purpose and responsibilities have been lost. Use these 5 tips below to help your loved one fight through some tough times.

Get Better Sleep

Quality sleep is essential for everyone, but it can be especially beneficial for seniors struggling with depression. To get better sleep, experts recommend refraining from frequent daytime naps. The truth is these naps can impact the amount of quality sleep you get during the night. Avoid staying up later and sleeping in, as these will only aggravate depression.

Keep Them Active

Physical activity is very important for anyone dealing with depression. Not only does this help with depression symptoms, it also enables a senior to live longer. Get the senior in your life to go for daily walks. You can always find a group of seniors to join for some exercising and socializing. For seniors, socializing is crucial because depression often leads to overall isolation.

Give Them Purpose

It’s no secret everyone needs a reason to get out of bed in the morning. Retirement ultimately means there is no longer a job to do and less obligations in life. Find a reason to get your loved one going in the morning. Check out volunteer opportunities in your area or consider joining a social group to help combat depression.

Eat Well

Our diet has a huge impact on the way we feel, both physically and mentally. Diets filled with lots of fats and sugars will only heighten depression symptoms. To better fight through depression, switch to a diet full of lean proteins, fruits, vegetables and whole grains.

Always Take Medications

If your loved one has been prescribed medication(s) for depression symptoms, then it’s crucial to take these medications. Be sure other medications are being taken, as well, in order to maximize health. Research has shown that a lack of energy can lead to depression.

Assisted Living At Vista Winds Located In Peoria, Arizona

If you are doing research about retirement communities in Peoria, Arizona, Vista Winds Retirement Home should definitely be on your list. Vista Winds offers retirement living at its finest. We have a rich calendar of activities, meals prepared by a Chef and caregivers on staff 24 hours a day for your health and safety. We offer award winning independent living, assisted living and memory care services. Come tour our community to see how we are a step above the rest and how easy it is to Make Yourself at Home! Vista Winds is surrounded by amazing views and our resort style property will be sure to impress!

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Golf Exercises For Seniors
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Golf Exercises For Seniors

Back and lower body pain is extremely troublesome for golfers, especially seniors hitting the course. Try these four exercises/stretches to improve flexibility before playing your next round.

Best Golf Exercises For Seniors

Seniors should focus on these areas when warming up before hitting the links:

  • Back
  • Legs
  • Hip
  • Quads

Let’s check out some of the best stretches/exercises for these areas of the body below!

Back Exercise

  • Lie flat on your back to start.
  • Next, bend both your knees while keeping your feet flat on the ground simultaneously.
  • Do this while keeping your arms flat on the ground.
  • Keep your feet shoulder width apart during this exercise.
  • Your hands and shoulders should remain flat on the ground while you raise your hips.
  • Your hips need to form a straight line from your head to your knees.
  • Lower yourself back down to the ground, carefully.
  • Try to repeat this motion 8-10 times.

Leg Stretches

  • Begin by sitting up straight in a chair.
  • Keep both feet flat on the floor at this time.
  • Have your back straight while slowly raising one leg.
  • Try to keep that leg horizontal with the floor.
  • Hold the pose for 5 second increments.
  • Now repeat the motion with the opposite leg.
  • Do this stretch 8-10 times with each leg.

Hip Exercise

  • Lie flat on your back for this stretch.
  • Keep your feet planted on the ground and knees in the air.
  • Now drop both of your knees to the left side.
  • Try to hold the pose for at least 10 seconds.
  • Return to your starting position, then repeat the motion to the opposite side.

Quad Exercise

  • Stand straight up with both feet planted on the ground, firmly.
  • Steady yourself against a door or other large object.
  • Bend one leg and knee, holding it tight to your buttocks.
  • Utilize the hand on that side to hold your leg in position.
  • Hold the pose for at least 10 seconds at a time.
  • You should feel your quad stretching while holding the pose.

Assisted Living At Vista Winds Located In Peoria, Arizona

If you are doing research about retirement communities in Peoria, Arizona, Vista Winds Retirement Home should definitely be on your list. Vista Winds offers retirement living at its finest. We have a rich calendar of activities, meals prepared by a Chef and caregivers on staff 24 hours a day for your health and safety. We offer award winning independent living, assisted living and memory care services. Come tour our community to see how we are a step above the rest and how easy it is to Make Yourself at Home! Vista Winds is surrounded by amazing views and our resort style property will be sure to impress!

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Checklist For Elderly Living Alone
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Checklist For Elderly Living Alone

If you are looking for a checklist for the elderly living alone, follow this guide!

Keep The Home Well-Lit At All Times

A home lacking in sufficient lighting will only increase the possibility of falls and other injuries. Keep the staircases well-lit all throughout the day and night. Installing nightlights in high traffic areas of the home is a helpful solution. Wireless motion sensor lights can also be installed near any bathrooms and bedrooms. Ensure the lighting you currently use is strong enough to keep you from straining your eyes.

Remove Tripping Hazards

An estimated 9,000 seniors die each year due to at-home falls, according to The U.S. Centers for Disease Control and Prevention. You can greatly minimize this potential risk by removing all loose objects from the floor. All cords and wires will need to be placed against walls securely. Rugs and carpeting should all feature nonslip backing.

Fire Safety

Fires are another potential risk for seniors living independently. Place a working smoke detector and fire extinguisher on each floor of the home. Ensure proper operation by testing these regularly. All windows and doors should be easy to open from the inside.

Fall Prevention Checklist

Falling at home is one of the biggest concerns for elderly citizens. Follow this guide for some safety solutions.

Floor Safety

❒ All walkways need to be kept clear of any objects.

❒ Keep walkways free of any furniture.

❒ No loose objects/debris on the floor.

❒ Wires and cords are secured against the wall.

Bedroom Safety

❒ Lightning needs to be within reach of the bed on both sides.

❒ Utilize nightlights to keep pathways and bathrooms illuminated throughout the night.

Bathroom Safety

❒ Tub and/or shower floor should feature nonstick rubber mats.

❒ Install grab bars around the toilet.

❒ Use grab bars to enter and exit the shower area.

Kitchen Safety

❒ All frequently used items should be located on lower shelves.

❒ Keep a sturdy stool nearby, if necessary.

Stair Safety

❒ Fix any broken or uneven steps immediately.

❒ Remove loose objects from the staircase.

❒ Keep the staircase well-lit at all times.

❒ Install handrails on both sides.

❒ Light switches should be at both the top and bottom of the stairs.

Assisted Living At Vista Winds Located In Peoria, Arizona

If you are doing research about retirement communities in Peoria, Arizona, Vista Winds Retirement Home should definitely be on your list. Vista Winds offers retirement living at its finest. We have a rich calendar of activities, meals prepared by a Chef and caregivers on staff 24 hours a day for your health and safety. We offer award winning independent living, assisted living and memory care services. Come tour our community to see how we are a step above the rest and how easy it is to Make Yourself at Home! Vista Winds is surrounded by amazing views and our resort style property will be sure to impress!

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7 Stages Of Lewy Body Dementia
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7 Stages Of Lewy Body Dementia

One of the most common forms of dementia is called Lewy Body Dementia (LBD). Developing either slowly or quickly over time, LBD can easily be confused for schizophrenia or Alzheimer’s. When LBD is combined with other brain disorders, individuals can experience symptoms rather quickly, according to nia.nih.gov.

The average lifespan of someone diagnosed with LBD is between 5-8 years, while recent studies have shown some individuals living up to 20 years after diagnosis.

First Signs Of Lewy Body Dementia

LBD is classified in three stages: early, middle and late. Typically, the start of LBD includes some hallucinations and mild delusions. Individuals suffering in the early stages of LBD tend to act out dreams while sleeping. Slight difficulties in mobility may also be included in the early stages.

For the most part, memory will stay intact during the early days, but moments of confusion can still occur. Slight cognitive changes can be noticed at this time, as well. The 7 stages of LBD are detailed below.

LBD Stage 1: No Noticeable Changes

Stage 1 of LBD usually goes unnoticed by friends and family. Individuals in stage 1 generally show zero signs of the disease, and at this stage LBD should not have any impact on the individuals’ life.

Symptoms: 

  • No symptoms at this point.

LBD Stage 2: Mild Changes

Stage 2, consistent with stage 1, yields very few noticeable changes. Memory issues are typically passed off as a normal part of aging.

Symptoms: 

  • Some difficulty finding the right words.
  • Normal functioning both in and out of the home.
  • Ability to overcome most memory issues.

LBD Stage 3: Noticeable Changes

Stage 3 tends to be the stage of LBD that others begin to notice behavioral changes. Changes in the suffering individual’s action, thinking and overall reasoning. Memory issues will persist at this stage, unfortunately.

Symptoms: 

  • Forgetful at times.
  • Problems recalling correct names or words.
  • Difficulty managing money.
  • Trouble paying attention.

LBD Stage 4: Mild Dementia

Most individuals suffering through stage 4 can still correctly recall family, friends and specific past events.

Symptoms: 

  • Forgetting certain items and names.
  • Miscues while driving.
  • Issues with daily routines.
  • More trouble with money management.
  • Forgetting where certain items were placed.

LBD Stage 5: Moderate Decline

Despite some moderate difficulties, individuals should recognize loved ones, but memory issues will persist. Most individuals will require some help performing daily tasks in this stage.

Symptoms: 

  • Personality changes.
  • Mood swings.
  • Repetitive thoughts and questions.
  • Memory gaps.
  • Bladder problems.

LBD Stage 6: Severe Decline

Unfortunately, memories will really start to fade during this stage. Hiring someone for round-the-clock care is recommended during these final stages.

Symptoms: 

  • Getting lost and confused.
  • Trouble speaking.
  • Frequent delusions.
  • Swift personality and mood changes.
  • Lack of awareness.
  • Strange eating habits.

LBD Stage 7: Severe Dementia

The last stage of LBD includes the individual no longer recognizing friends and family. Round-the-clock care is essential at this point.

Symptoms: 

  • Loss of ability to speak, eat and swallow.
  • Constantly disoriented.
  • Loss of bladder/bowel control.

Vista Winds Is An Upscale Retirement Community Located In Peoria, Arizona

If you are doing research about retirement communities in Peoria, Arizona, Vista Winds Retirement Home should definitely be on your list. Vista Winds offers retirement living at its finest. We have a rich calendar of activities, meals prepared by a Chef and caregivers on staff 24 hours a day for your health and safety. We offer award winning independent living, assisted living and memory care services. Come tour our community to see how we are a step above the rest and how easy it is to Make Yourself at Home! Vista Winds is surrounded by amazing views and our resort style property will be sure to impress!

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Funny And Inspirational Quotes About Aging
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55 Funny And Inspirational Quotes About Aging

Aging brings plenty of wisdom, but lets not forget about the laughs and inspiration! Here are 55 of the best aging quotes.

Funny Quotes About Aging

1. “Old age is always fifteen years older than I am.” – Oliver Wendell Holmes

2. “Old age is like everything else. To make a success of it, you’ve got to start young.” – Theodore Roosevelt

3. “You can’t help getting older, but you don’t have to get old.” – George Burns

4. “You are only young once, but you can stay immature indefinitely.” – Ogden Nash

5. “Birthdays are good for you. Statistics show that the people who have the most live the longest.” – Larry Lorenzoni

6. “I don’t feel old. I don’t feel anything until noon. Then it’s time for my nap.” – Bob Hope

7. “If I had known I was going to live this long, I’d have taken better care of myself.” – Unknown

8. “I’m very pleased to be here. Let’s face it, at my age I’m very pleased to be anywhere.” – George Burns

9. “People ask me what I’d most appreciate getting for my eighty-seventh birthday. I tell them, a paternity suit.” – George Burns

10. “How old would you be if you didn’t know how old you was?” – Satchel Paige

11. “The really frightening thing about middle age is that you know you’ll grow out of it.” – Doris Day

12. “By the time you’re 80 years old you’ve learned everything. You only have to remember it.” – George Burns

13. “You don’t stop laughing when you grow old. You grow old when you stop laughing.” – George Bernard Shaw

14. “Aging seems to be the only available way to live a long life.” – Kitty O’Neill Collins

15. “You can live to be a hundred if you give up all things that make you want to live to be a hundred.” – Woody Allen

16. “Age is a very high price to pay for maturity.” – Tom Stoppard

17. “Growing old is mandatory, but growing up is optional.” – Walt Disney

18. “Today is the oldest you’ve ever been and the youngest you’ll ever be again.” – Unknown

19. “Age is not how old you are but how many years of fun you’ve had.” – Matt Maldre

20. “Old age is not so bad when you consider the alternative.” – Maurice Chevalier

21. “Life’s tragedy is that we get too old soon and wise too late.” – Benjamin Franklin

22. “I don’t let my age define me but the side-effects are getting harder to ignore.” – Unknown

23. “No one is as old as those who have outlived enthusiasm.” – Henry David Thoreau

24. “There is still no cure for the common birthday.” – John Glenn

25. “Wrinkles should merely indicate where smiles have been.” – Mark Twain

Senior Couple

Inspirational Aging Quotes

26. “The longer I live the more beautiful life becomes.” – Frank Lloyd Wright

27. “We don’t grow older, we grow riper.” – Pablo Picasso

28. “I don’t believe in aging. I believe in forever altering one’s aspect to the sun.” – Virginia Woolf

29. “It’s like you trade the virility of the body for the agility of the spirit.” – Elizabeth Lesser

30. “Count your age by friends, not years. Count your life by smiles, not tears.” – John Lennon

31. “In the end it’s not the years in your life that count. It’s the life in your years.” – Abraham Lincoln

32. “Getting old is a fascinating thing. The older you get, the older you want to get.” – Keith Richards

33. “Aging is not lost youth but a new stage of opportunity and strength.” – Betty Friedan

34. “Grow old along with me! The best is yet to be.” – Robert Browning

35. “When it comes to staying young, a mind-lift beats a face-lift any day.” – Marty Buccella

36. “Old age is an excellent time for outrage. My goal is to say or do at least one outrageous thing every week.” – Maggie Kuhn

37. “Those who love deeply never grow old, they may die of old age, but they die young.” – Ben Franklin

38. “To find joy in work is to discover the fountain of youth.” – Pearl S. Buck

39. “Anyone who keeps the ability to see beauty never grows old.” – Franz Kafka

40. “Age is no barrier. It’s a limitation you put on your mind.” – Jackie Joyner-Kersee

41. “I suppose real old age begins when one looks backward rather than forward.” – Mary Sarton

42. “For the unlearned, old age is winter; for the learned, it is the season of the harvest.” – Hasidic saying

43. “Youth is the gift of nature, but age is a work of art.” – Stanislaw Jerzy Lec

44. “Try to keep your soul young and quivering right up to old age.” – George Sand

45. “Age is something that doesn’t matter, unless you are a cheese.” – Luis Bunuel

46. “Age is a case of mind over matter. If you don’t mind, it don’t matter.” – Satchel Paige

47. “That’s another great thing about getting older. Your life is written on your face.” – Frances McDormand

48. “Why would I worry about getting older – what’s to moan about?” – Dawn French

49. “I’m just getting older and better.” – Neal Schon

50. “If you’re not getting older, you’re dead.” – Tom Petty

51. “Aging is just another word for living.” – Cindy Joseph

52. “It’s not how old you are. It’s how you are old.” – Jules Renard

53. “We are always the same age inside.” – Gertrude Stein

54. “It matters not how long we live but how.” – Phillip James Bailey

55. “The best tunes are played on the oldest fiddles.” – Ralph Waldo Emerson

More Aging Quotes

75 Funny Retirement Quotes

Funny Quotes About Aging Gracefully

Quotes About Getting Older

Funny Quotes About Getting Older

Positive Aging Quotes

Funny Quotes

Vista Winds Is An Upscale Retirement Community Located In Peoria, Arizona

If you are doing research about retirement communities in Peoria, Arizona, Vista Winds Retirement Home should definitely be on your list. Vista Winds offers retirement living at its finest. We have a rich calendar of activities, meals prepared by a Chef and caregivers on staff 24 hours a day for your health and safety. We offer award winning independent living, assisted living and memory care services. Come tour our community to see how we are a step above the rest and how easy it is to Make Yourself at Home! Vista Winds is surrounded by amazing views and our resort style property will be sure to impress!

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