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Help clients avoid first-time RMD errors
Steer clear of common mistakes and high penalties related to required minimum distributions.
2010 Roth conversions are now penalty-free
With the five-year period satisfied, many clients meet the requirements for qualified distributions
2015 resolution: Avoid 60-day rollovers
Strict new rules on IRA fund transfers are now in effect, and breaking them can be costly.
What qualifies as compensation?
Tax Court case shows what counts for IRA contribution deductibility - and what doesn't
IRA funds protected in bankruptcy
An Ohio bankruptcy court recently ruled that funds withdrawn from an individual retirement account and deposited in an…
Distribution error wipes out IRA
An entire IRA was lost to a distribution error after death. This is a textbook case of what…
Sometimes the IRS loses in court
Engineer's rollover case points out the need for a good lawyer schooled in tax law.
Heed custodian’s asset allowances
The Tax Court has ruled that an individual had a taxable IRA distribution when he tried to get…
A warning on multiple IRA rollovers
Tax Court: "Once a year" rollover rule applies to all of a taxpayer's individual retirement accounts.
Inherited IRAs in bankruptcy cases
The Supreme Court ruled unanimously last month that inherited individual retirement accounts are not protected under federal bankruptcy…
Using an IRA like a bank is risky
Tapping accounts for short-term financing can be costly if funds aren't replaced within 60 days
In divorce, retirement is at risk
Splitting a retirement plan in divorce often means tax problems. While matrimonial attorneys usually assist in the division…
IRS: Only one IRA rollover per year
The agency changes course after Tax Court ruling; it will pull proposed regulation.
New IRS rules on hard-to-value IRAs
Most stocks and other traditional investments are easy to value. The price is determined by the markets or…
Charitable IRA provision: Time is now
Once again, the qualified-charitable-distribution provision is set to expire at year-end. Not taking advantage of this provision could…
Parents lose out on 401(k) windfall
The 8th U.S. Circuit Court of Appeals recently ruled that a surviving spouse's promise to waive her rights…
IRA Alert: Tax court shoots down medical exception
Recently, the Tax Court ruled that an individual was liable for the 10% early-distribution penalty on a retirement…
Don’t blame the custodian for IRS levies
A lthough individual retirement accounts are tax shelters, a recent federal court ruling drove home the point that…
Understand clients’ pension plans
A ruling against the plaintiff in a recent pension benefit case highlights the need for financial advisers to…
Five budget items that target retirement accounts
Five proposals were included in this year’s federal budget that directly relate to retirement accounts. Here is a…
