Here are just a few important changes that went into effect beginning January 1, 2015:
Under the Affordable Healthcare Act, the penalty for not having health insurance in 2015 has significantly increased to $325 per adult (or 2% of income, if greater) in 2015.
IRA Rollover Rule:
As of January 1st, non-taxable 60 day rollovers for IRAs have been limited to one per year regardless of the number of IRAs you may have.
Investment Rule for 529 Plans:
Effective as of the 2015 tax year, the Tax Increase Prevention Act of 2014 allows Code Sec. 529 qualified tuition plans to permit investment direction by an account contributor or designated beneficiary up to two times per year.
Single Distribution Rule:
When qualified plan participants choose to direct their retirement plan distribution to go to multiple destinations, as of January 1, 2015, the amounts will be treated as a single distribution for allocating pre-tax and after-tax basis. Previously, if such a distribution were split, each destination of that retirement plan distribution was considered a separate distribution.