Permalink Submitted by Al Fry on Fri, 2007-11-30 17:17
There are two pieces of pending legislation, one would extend it to 2008, the other would make it permanent, lower the age to 59 1/2 and remove the $100,000 limit. Since congress will only have 3 weeks left in 2007, its possible nothing will get done. The may include a one year extension in a TCA bill, but even that may not get passed until 2008, making many provisions retroactive. Of course pay-go may prevent anything substantive being passed (other than one-year extension).
Permalink Submitted by Al Fry on Fri, 2007-11-30 17:17
There are two pieces of pending legislation, one would extend it to 2008, the other would make it permanent, lower the age to 59 1/2 and remove the $100,000 limit. Since congress will only have 3 weeks left in 2007, its possible nothing will get done. The may include a one year extension in a TCA bill, but even that may not get passed until 2008, making many provisions retroactive. Of course pay-go may prevent anything substantive being passed (other than one-year extension).
Permalink Submitted by Janine Janine on Sat, 2007-12-01 02:09
Al
Thank you very much for your reply. And I know that you will keep us informed on any developments.
Janine