Last year's passage of the Pension Protection Act (PPA) allowed, under Section 829, for non-spouse beneficiaries to complete rollovers of inherited employer retirement plans into inherited IRAs to maximize tax deferral. Unfortunately, though, the IRS' interpretation of the newly created IRC Section 402(c)(11) early this year in IRS Notice 2007-7, declared that such rollovers would only be optional, at the discretion of the employer to allow them or not. Fortunately, though, in the face of a pending Technical Corrections bill in Congress to reverse this undesirable interpretation, the IRS has acquiesced to simply making the treatment mandatory for all employers.

Tuesday, November 6th, 2007 Posted by Michael Kitces in Taxes | 1 Comment

With this entry, a new blog is born in the world. Like most of the 100 million or more others who have created blogs in recent years, I've created this one because I have something to share, and I hope that I will find an audience who finds value in what I have to say. [...]

Tuesday, November 6th, 2007 Posted by Michael Kitces in Nerd's Eye View | 1 Comment

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