One Per Year IRA Rollover Update

In light of the disappointing Supreme Court ruling earlier this year, the IRS has announced that there will be a cushion to allow IRA owners time to adjust to the Supreme Court’s new and constrictive interpretation of Internal Revenue Code 408(d)(3)(B). The Court’s ruling limits IRA rollovers to one per year regardless of the number of IRAs you may have.

The latest development on this issue from the IRS is that they will delay implementation of this rule until January 1, 2015, at the earliest.

Source: www.irs.gov

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