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BAD IRS - New Rules 60 day IRA Rollover


What you need to know about the new rollover rules for IRA's! Check out my web site: Twitter: Facebook: Tumblr: This video features derivitives of the following music: "Chrizz Luvly feat. Calvin Jazz - Winter Music (Dirty Play Remix) Free Download!" by Dirty Play is licensed under a Creative Commons Attribution license. "Never Too Late (Chill Jazz Beat) Free Download!" by Redbbbeats is licensed under a Creative Commons Attribution license. ...(read more)


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As of January 2015, the IRS has implemented new rules for IRA rollovers that limit the number of rollovers that can be made per year to one. This change has been met with mixed opinions from financial advisors and taxpayers alike. The new rule states that individuals can only do one rollover from an IRA to another IRA or from a 401(k) to an IRA in any 12-month period. The 12-month period is measured from the date of the first rollover. This means that if you do a rollover on January 1, you cannot do another rollover until January 1 of the following year. The only exception to this rule is if you are transferring funds from a Roth IRA to another Roth IRA. This new rule has been criticized by some financial advisors who believe that it will limit the ability of individuals to take advantage of tax-free investment opportunities. They argue that the new rule will make it more difficult to move funds from one account to another in order to take advantage of better investment opportunities or to access funds in an emergency. The new rule also has some tax consequences that taxpayers should be aware of. If an individual does more than one rollover in a 12-month period, the IRS will treat the transaction as a taxable distribution. This means that the individual will owe taxes on the amount that was rolled over, as well as a 10% early withdrawal penalty if they are under the age of 59 ½. The new rule has been in effect since January 2015, and while it may be inconvenient for some taxpayers, it is important to understand the implications of the new rule before making any IRA rollovers. The best way to avoid any potential problems is to limit yourself to one rollover per year, or to make sure that you are transferring funds from a Roth IRA to another Roth IRA. https://inflationprotection.org/bad-irs-new-rules-60-day-ira-rollover/?feed_id=74509&_unique_id=63fdd29a7ee44 #Inflation #Retirement #GoldIRA #Wealth #Investing #Arizona #bear #CertifiedFinancialPlanner #CertifiedPublicAccountantProfession #CFP #cpa #individualretirementaccount #InternalRevenueServiceGovernmentAgency #Teresa #RolloverIRA #Arizona #bear #CertifiedFinancialPlanner #CertifiedPublicAccountantProfession #CFP #cpa #individualretirementaccount #InternalRevenueServiceGovernmentAgency #Teresa
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