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Individual Retirement Account Answer Book
Individual Retirement Account Answer Book Author:Lockwood, Levy, Fleisher The Twelfth Edition of Individual Retirement Account Answer Book is designed to provide quick, accurate, and timely information pertaining to traditional and Roth IRAs that concerns accountants, attorneys, financial planners, mutual fund brokers, and other pension professionals. It also contains discussions of SIMPLE IRAs, which continue to be p... more »owerful tools for retirement and estate planning and for achieving other long-range financial goals. The Twelfth Edition brings practitioners up to date on congressional and administrative agency actions affecting all IRAs and the Coverdell ESA, including: The final regulations issued under Internal Revenue Code Section 401(a)(9) governing required minimum distributions
Catch-up contribution provisions for taxpayers age 50 or over
Expansion of catch-up provisions to SIMPLE IRAs for taxpayers age 50 and over
Deemed IRAs under qualified retirement plans
Expanded rolloveroptions available under the Economic Growth and Tax Relief Reconciliation Act of 2001
Estate tax rules under EGTRRA and planning for large IRAs
New proposed regulations under code Section 401(a) regarding the valuation of life insurance contracts
Treatment of non qualified distributions from Roth IRAs for tax purposes
Taxes and penalties that potentially apply to a Coverdell ESA
Instructions for completed Forms 5498, 1099-R, and 1099-Q Individual Retirement Account Answer Book is designed to help practitioners stay abreast of the latest developments concerning IRAs with answers to such questions as: Who should be the beneficiary of a traditional IRA or Roth IRA?
What distribution schedule is applicable if an IRA owner dies before the required beginning date?
What impact does EGTRRA have on IRAs?
Who is eligible to establish a Roth IRA?
Is a Roth IRA a better choice than a nondeductible traditional IRA?
May conversion of a traditional IRA to a Roth IRA be accomplished by a trustee-to-trustee transfer?
What are the reporting requirements for recharacterizations and reconversions?
And so much more! To further clarify existing and new legislation, regulations, and rulings that affect IRAs and Coverdell ESAs, the Twelfth Edition includes practice pointers, worksheets, and numerous examples. Useful addresses and telephone numbers are also provided.« less