Permalink Submitted by Alan - IRA critic on Thu, 2015-02-12 23:37
Maybe 5 minutes. Remember that in cases where a tax court could conceivably surprise everyone by invoking a step transaction limit, just like the one rollover rule, the IRS is not going to go back and make everyone amend the last 3 years returns. They would produce a Reg going forward. An actual tax code change might be more of a threat such as the one included in Obama’s budget that non deductible contributions could not be converted. I would take advantage of the back door Roth as long as the present code allows it.
Permalink Submitted by Alan - IRA critic on Thu, 2015-02-12 23:37
Maybe 5 minutes. Remember that in cases where a tax court could conceivably surprise everyone by invoking a step transaction limit, just like the one rollover rule, the IRS is not going to go back and make everyone amend the last 3 years returns. They would produce a Reg going forward. An actual tax code change might be more of a threat such as the one included in Obama’s budget that non deductible contributions could not be converted. I would take advantage of the back door Roth as long as the present code allows it.