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Taxpayer Relief Act of 2012: 5 Key 2013 Retirement Planning Points

By Jeffery Levine, IRA Technical Expert  

Follow Me on Twitter: @IRAGuru4EdSlott

The House of Representatives passed a previously-passed Senate bill (H.R. 8), a 157-page bill called the American Taxpayer Relief Act of 2012. There are many retirement planning provisions included in the bill that kept the United States from plunging off the fiscal cliff (cue scary music, plus the equally-scary reality that another showdown over spending cuts and deficit reduction is looming on the horizon).

One key word struck us as we extensively combed through the piece of legislation: permanent. Many of the provisions we discuss in the video below were made permanent, meaning we may have some concrete planning guidance moving forward.

To help you begin to think about 2013 planning, we broke down the lengthy piece of legislation into 5 key 2013 retirement planning points. We list them and go into more detail in the video below. Also, make sure to subscribe to our YouTube page, IRAtv, for future alerts each time we post a new informative video.

One subject we don't touch on in the video (Qualified Charitable Distributions) was a popular topic found in our inbox at year end, and the Taxpayer Relief Act of 2012 answers many of the questions involving QCDs. As a programming note, Beverly DeVeny will discuss QCDs at length in this space on Friday, so check back for that.

5 Key 2013 Retirement Planning Points

  • Income tax rates
  • Permanent estate tax exemption
  • Permanent capital gains rates
  • Index of inflation for AMT patch
  • In-plan Roth conversion CHANGE

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