Tax

IRS Denies Post-Mortem Rollover

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by robertkeebler     August 24, 2011      0.0 (0) In PLR 201123048, the Internal Revenue Service addressed a late rollover request from the widow when her late husband failed to accomplish a rollover on a timely basis. In a surprising move, and certainly devastating to this family, the Service denied such a rollover.

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IRS Allows Disclaimer of Retirement Account Despite Receipt by Beneficiary of Postmortem RMDs

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by robertkeebler     August 11, 2011      0.0 (0) A recent Internal Revenue Service decision allowed a beneficiary to disclaim interest in retirement accounts despite receiving postmortem required minimum distributions.

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IRS Offers Forgiveness For Missed SEPP Distribution

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by robertkeebler     July 26, 2011      0.0 (0) In a surprising decision by the IRS, a taxpayer who did not take the full amount of a series of equal periodic payments (SEPP) was not considered to have modified the SEPP, saving the taxpayer a 10% early distribution penalty.

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Wash Sales And The 30-Day Rule

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by SherylCPA     May 24, 2011      0.0 (0) Wash sales can be confusing!  At a basic level, it seems clear that if you sell stock at a loss, then buy it back within 30 days, you don't get to deduct the loss. But, there are a lot of wrinkles in the wash sales rules.

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