Archive for the ‘IRAs’ Category
IRA Beneficiary no Survivorship Interest
The Ninth Circuit has held that an IRA’s named beneficiaries, rather than his wife, were entitled to the IRA funds after his death, even though some of the funds in the IRA had been rolled over from a 401(k) plan subject to ERISA’s surviving spouse provisions.
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It’s Not What You Earn, But What You Keep, After Taxes.™ |
Posted in IRAs
Roth Conversion Tax Traps for Seniors
Seniors who are thinking of converting to a Roth IRA should note the Medicare tax trap: The extra income from converting can raise the Medicare Part B premiums.
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It’s Not What You Earn, But What You Keep, After Taxes.™ |
New Ruling on RMDs
IRS is waiving the 60-day rollover deadline to permit any IRA owner, plan participant, or their spouse beneficiary to undo the 2009 Required Minimum Distribution (RMD), regardless of when in 2009 they took the unwanted RMD.
The deadline has been extended to November 30, 2009 or 60 days from the date the funds were received, whichever is later.
Caution: The one rollover per year rule is still in effect.
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It’s Not What You Earn, But What You Keep, After Taxes.™ |