IRS To Issue Regs On IRA Tax-Free Rollover Limits

Law360, New York (March 20, 2014, 6:18 PM EDT) -- The Internal Revenue Service said Thursday that it plans to issue regulations changing the frequency with which individuals can make tax-free rollovers from their individual retirement accounts, but the changes won't go into effect until 2015 at the earliest.

The IRS currently allows taxpayers to make one tax-free rollover in any given one-year period, and applies that time limit on an IRA-by-IRA basis. Yet a January tax court opinion said the limitation should be applied, on aggregate, to a taxpayer's entire IRA holdings. The agency said...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.