800-829-1040 For individual and joint filers who need procedural or tax law information and/ or help to file their 1040-type IRS Tax Help Line for individual returns (including Individuals| Schedules C and E); and, general account information for Form 1040 Filers.
Participation Loans Lenders and borrowers can team up with other lenders and borrowers to reduce their exposure to risk and increase their profits. These relationships, which come in many flavors, are called participation loans.
IRAs and IRA-based plans (SEP, SIMPLE IRA and SARSEP plans) cannot offer participant loans. A loan from an IRA or IRA-based plan would result in a prohibited transaction. These plans use IRAs to hold participantsâ retirement savings. You can withdraw money from your IRA at any time.