Retirement experts call it a game changer for the 50 or so million
households in the U.S. that own an individual retirement account — an
IRA.
Uncle Sam’s Tax Court just ruled that the one-rollover-per-year rule
applies to all of a taxpayer’s IRAs rather than to each IRA separately.
And that ruling, say experts, is in direct conflict with IRS Publication
590, the bible for IRAs.
“Industry leaders, financial advisers, and everyone else who handles
IRAs are stunned,” said Denise Appleby, the editor and publisher of The
IRA Authority
According to Appleby, there are two ways to move money between IRAs.
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