Individual Retirement Account Answer Book

The Tenth 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 powerful tools for retirement and estate planning and for achieving other long-range financial goals. Topics covered in detail include the 2002 final regulations under Section 401(a)(9) of the Internal Revenue Code And The complex provisions of the Job Creation and Worker Assistance Act of 2002 And The Economic Growth and Tax Relief Reconciliation Act of 2001. to help clients use IRAs to their best advantage, this publication provides the professional with comprehensive coverage of the following topics: the new IRA contribution rules, including the catch-up provisions for taxpayers age 50 or over the final regulations under Code Section 401(a)(9) governing required minimum distributions Expanded rollover options available under EGTRRA the status of state rules on taxation of traditional IRA and Roth IRA distributions the latest financial and estate planning strategies involving IRAs Relative benefits of the traditional IRA And The Roth IRA. 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 Tenth Edition includes practice pointers, worksheets, and numerous examples. Useful addresses and telephone numbers are also provided.