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The Slott Report

IRA, 401(k) Contribution and Income Limit Changes in 2012

Employees with higher incomes will be eligible for a tax break if they save in a traditional IRA, can contribute to a Roth IRA, or qualify for the saver's credit. That's just one piece of good news from an IRS announcement late last week. Click to read the others.

See-Through Trust Deadline Right Around The Corner

October 17th is not the only important date this month for retirement account owners. This past Monday was a date circled on the calendar of many of you. For most of you, that was the final deadline to complete a timely Roth recharacterization of a 2010 Roth IRA conversion (the deadline is now October 31st for certain individuals affected by Hurricanes Irene and Lee, or the wildfires in Texas). Click to read more about why October 31st is also a key deadline to be aware of.

Tax Relief for Hurricane Irene/Lee and the Texas Wildfires

A final, final word on the Roth recharacterization topic. In an article posted here on October 11, 2011, we mentioned that the deadline for recharacterization in certain areas affected by Hurricanes Irene and Lee and the Texas wildfires had been extended to October 31, 2011. Since then, many readers have asked what states and counties were included in this extended deadline. So, as an accommodation to these folks, we’re providing some additional information.

Self-Directed IRAs and Fraud Promoters

Self-directed IRAs provide some different investing options, but they come with risks. Jeffrey Levine details the dangers in the video below and provides 5 tips you can use to safeguard yourself against fraud in these cases.

Roth Recharacterization Deadline Final Word

There is one final word to add on the Roth recharacterization deadline for Roth IRA conversions completed in 2010. The recharacterization deadline for residents residing in certain counties of states impacted by Hurricanes/Tropical Storms Irene and Lee, as well as the Texas wildfires, has been extended to October 31, 2011. Click for details regarding this relief on the IRS website.

Roth Conversion Deferral, Annuities and IRAs Highlight Mailbag

This week's Slott Report Mailbag answers questions about reporting Roth conversion income deferred to 2011 and the process involving annuities, required minimum distributions and IRAs.

Year-End IRA Deadline Falls on a Saturday

We recently informed you that the recharacterization deadline for 2010 Roth IRA conversions is generally October 15th of the year following the year of conversion. This year, the deadline is October 17th because the 15th falls on a Saturday.

Roth Recharacterization Reminder, IRA Trust October Deadline

This week's video blog highlights the information covered this week at The Slott Report, including an article on the October IRA trust deadline and the final part in the series on the variation in IRA rules state to state.

Important October Deadlines for IRAs

October is almost here, and with the turning of the page comes some important IRA deadlines you should add to the calendar.

SEP Accounts and Recharacterizations Highlight Mailbag

This week's Slott Report Mailbag includes questions about converting part of an active SEP (Simplified Employee Pension) to a Roth IRA and the recharacterization process as it concerns tax returns.
 

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