I have a client who is over age 701/2 and has an IRA in the amount of 1.8 million. In Jan 2008 he wants to take a 150,000 out of the IRA so he can pay off a second mortgage and then get his first mortgage refinanced. After the refinance then he plans to get a new second mortgage and then pay back the 150,000 that he took out of the IRA. He plans to have all this done within 60 days. Can he do this and in essence not have to pay taxes? The RMD he has to take for 2008 is another issue and we are aware that he will have to take that and pay taxes by 12/31/2008.