A recent U.S. Tax Court ruling that declared IRA owners are entitled to just one nontaxable rollover every 12 months across all their accounts upends conventional reading of the law.
The decision in Bobrow vs. Commissioner changes the commonly accepted interpretation of the law that held the once-a-year rule applied to each IRA owned by an individual.
The ruling prompted the American Society of Pension Professionals and Actuaries to warn its members to be mindful of the ruling until the IRS clarifies its position.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
