News & Articles

Avoid Retirement Account Rollover Pitfalls

Posted on Fri, Sep 16, 2016
After retiring or leaving a job, your first big tax question might be: What should I do with the money in qualified retirement plan accounts with my former employer? These accounts include 401(k)s, profit-sharing plans and stock bonus plans. The standard advice is to roll everything over into an IRA. That advice generally makes sense, because you can take over management of your retirement funds while continuing to defer taxes on the income generated.

Arrange for a "Direct" Rollover

Read More

Tags: IRA Rollover, IRS, IRA

IRS Allows Exceptions for Missed Retirement Account Rollover Deadlines

Posted on Mon, Jul 11, 2016

You may know about the 60-day window for making tax-free rollovers of funds withdrawn from your IRA or other tax-favored retirement account. Here are a couple of things you might not know about the deadline:

Read More

Tags: IRA Rollover, Direct Rollover, IRS, Taxes, IRA

Update on the IRA 'One Rollover a Year' Rule

Posted on Wed, May 21, 2014

The U.S. Tax Court made a controversial ruling in January that contradicted an IRS publication designed to explain the law to taxpayers. In Bobrow, the court ruled that the one-rollover-per-year rule applies to all of taxpayer's individual retirement accounts (IRAs) in aggregate, rather than on an account-by-account basis. This ruling is significant for taxpayers with several IRA accounts.

Read More

Tags: EHTC Article, IRA Distributions, IRA Rollover, U.S. Tax Court, Articles, Taxes

Avoid Retirement Account Rollover Pitfalls

Posted on Mon, May 19, 2014

After retiring or leaving a job, your first big tax question might be: What should I do with the money in qualified retirement plan accounts with my former employer? These accounts include 401(k)s, profit-sharing plans and stock bonus plans. The standard advice is to roll everything over into an IRA. That advice generally makes sense, because you can take over management of your retirement funds while continuing to defer taxes on the income generated.

Read More

Tags: EHTC Article, Retirement, 401k Plan, IRA Rollover, Federal Taxes, Individual's IRAs, Direct Rollover, Articles, Taxes

IRA Rollover Court Case Contradicts Longstanding Interpretation

Posted on Tue, Feb 25, 2014

As we all know, tax law is often convoluted. To illustrate the complexity, the U.S. Tax Court recently ruled against what is clearly stated in an IRS publication designed to explain the law to citizens. In the new case, the Court stated that the one-rollover-a-year rule applies to all of an individual's IRAs rather than on an account-by-account basis. Here is an explanation of the controversial decision and the rules involved in transferring money from one IRA to another. 

Read More

Tags: EHTC Article, Tax Laws, IRA Rollover, U.S. Tax Court, Individual's IRAs, business consulting, CPA Firm