ruling to remember

Ruling to Remember: The Funds Are Still Taxable to You

Tuesday, October 13, 2015
This month's Ruling to Remember examines the case of a former plan administrator with the United Public Workers (UPW) Mutual Aid Trust Fund who was convicted of multiple crimes and used funds in a rollover IRA to pay the fine and restitution. What comes next is several judgments and disagreement over tax liability.
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You Don’t Get a Do-Over If You Forget 60-Day Rollover Period

Monday, August 11, 2014
A taxpayer we will call "Andrea" received an IRA distribution on May 10, 2012. She used the distribution and failed to put the distribution back into her IRA within the 60-day limit.Andrea filed a PLR (Private Letter Ruling 201429033) asserting that her failure to accomplish a rollover within 60 days was due to the fact that she used the amount to pay for medical expenses stemming from car accidents which occurred prior to the distribution. She did not have the amount available to deposit into her IRA until several months after the 60-day IRA rollover period
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Ruling to Remember: Waiving the 60-Day Rollover Requirement

Friday, November 08, 2013
In this month's Ruling to Remember, we look at Private Letter Ruling 201339002, wherein a Taxpayer we will call Sue claimed that her old financial institution never adequately explained the 60-day rollover rule, costing her the ability to roll an IRA distribution over to a new IRA at a new financial institution.
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