After failing to repeal Obamacare, taxes have become a prime target for President Trump. One idea would be to tax the money employees designate for their 401(k) plans up front. Currently, money placed in a 401(k) plan is tax-deferred. Taxes are paid upon withdrawal, which starts at age 70½ at the latest.
Should the current rules change, it would affect your 401(k) in two major ways: The amount you owe in taxes and when you would have to pay.
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Credit to USAToday.com
Tax reform: Lawmakers consider changing the 401(k) rules
Emmie Martin, CNBC, Sept. 3, 2017
