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New IRS rule could save $20,000 on botched IRA rollovers

November 25, 2016

moneyclock1_43Rolling over an IRA is a financial maneuver fraught with peril. One wrong step and you could be on the hook for a massive tax bill. Miss the 60-day deadline, and you could face a complicated appeals process that could easily cost $20,000 — that is, until now.

On August 24 the IRS changed its appeals process for those who miss the 60-day deadline. Now, with one of 11 excuses — a postal error, for example — and some “self-certification” legwork, you can fix the problem yourself for free.

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