conversion in 2010/2011 – taxes can be paid over 2 years
I was trying to find the related information regarding the new option of paying taxes over 2 years if doing conversion in 2010/2011 in the publcation 590 and could not. where can I get information regarding that? it should be in publication 590. could you help please?
Permalink Submitted by Alan Spross on Tue, 2009-07-28 19:11
IRS Pubs only provide brief summaries of future year changes usually limited to the next tax year. The 2009 edition of Pub 590 has not been released yet, but it should summarize at least the basics of the 2010 changes. Meanwhile, the attached link to Sec 512 of TIPRA contains the text of the change, but you will also see that regulations, reporting mechanics and forms are not included. The IRS has probably not finalized some of these details yet, so we generally know what CAN be done, but not all the related details.
http://taxes.about.com/library/bl_TIPRA.htm#SEC._512._CONVERSIONS_TO_ROT….