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IRS Eases Retirement Plan Rollovers

from Tax-news.com

The Internal Revenue Service has announced a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or individual retirement arrangement (IRA). In Revenue Procedure 2016-47, published Aug. 24, the IRS explained how eligible taxpayers, encountering a variety of mitigating circumstances, can qualify for a waiver of the 60-day time limit and avoid possible early distribution taxes. more


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