Jeremy M. Pelphrey was quoted in the Standard Federal Tax Reports – Taxes On Parade article "IRS Issues Guidance On Expansion Of In-Plan Roth Rollovers Under ATRA." While the full text can be found in the December 19, 2013, issue of Standard Federal Tax Reports – Taxes On Parade, a synopsis is noted below.
The IRS issued guidance in question-and-answer format on the expansion of in-plan Roth rollovers under the American Taxpayer Relief Act of 2012 (ATRA). According to Pelphrey, the amendment provision in the guidance is important.
"If a calendar year plan wants to take advantage of this guidance, the plan must be amended prior to December 31, 2014 to be effective for 2013," Pelphrey explained.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
