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Question: A new customer came to me asking for help with an IRA. Unfortunately, he had already accepted a check from the 401(k) plan made out to him personally. He sat on the check for 5 months and deposited it into his checking account last week. He is only 50 years old. Since we are well after the normal 60-day rollover period, is there any way that this can be repaired? Perhaps under the CARES act of 2020 if his departure was Covid related? Any direction you can provide would be appreciated.

I had a prospect tell me that his 401(k) match goes into a Roth or after-tax bucket. So the company’s...

I’m aware that Illinois allows a creditor to go after Inherited IRA assets, in both bankruptcy and non-bankruptcy situations. Is...

Just a few weeks after the start of the baseball season, the IRS has thrown us a curveball by apparently interpreting the SECURE Act 10-year payout rule in a totally-unexpected way. We say “apparently” because the IRS explanation isn’t very clear. And even if it was clear, the IRS offered the information in an informal publication that should not be relied on. Here’s the backstory: One of the major changes made by the 2019 SECURE Act was the elimination of the stretch for many beneficiaries of inherited IRAs.

What is the take on the BD Roth and the IRS rulings of Step transactions (Jeff Levine was ok with...

With all the recent changes to IRAs under the SECURE Act [i.e., required minimum distribution (RMD) age raised to 72, new rules for beneficiaries, etc.], combined with the CARES Act waiver of RMDs last year, it comes as no surprise that we are hearing rumors and conspiracy theories about what will happen next. Here are a couple of the more popular speculations: Will RMDs be waived again in 2021?

My mother died in 2013. My sister and I each split her IRA (and ROTH IRA) 50/50 at the time...

Please pardon my ignorance and my very basic question. I am about to start an IRA (before April 15th) and...

Hello, I was wondering if you could take a look at the following situation and provide any feedback on what...

We have a client who is mid 40s and just left employer who offered a 401A, non covered for SS....