Consulting for Individuals
We are glad to assist
you and other individuals with your IRA and pension questions.
Inherited IRAs and Beneficiary
Direct Rollovers and Rollovers versus Transfers
Roth IRA Conversions and
Qualified HSA Funding distributions
Please send your email
Briefly describe your
question or situation. In some cases, we will answer your question with
no charge and in other cases we will quote you a fee for our services.
We have worked with IRAs
and pensions for over 30 years. IRS guidance is not what it once was,
as the Tax Court's ruling in Bobrow vs. Internal Revenue Commissioner
in January 2014 demonstrates. A tax attorney had relied on IRS guidance
issued and he thought he was entitled to make two rollover contributions
so his two distributions would not be taxable. The U.S. Court disagreed
with the IRS' position and disallowed the two rollovers thereby making
the distributions subject to immediate income taxation. His income tax
bill was very large.
The Tax Court in its opinion
reminded everyone that a person relies on non binding IRS guidance at
his or her own peril.
We understand the IRA
and pension laws and the IRS' position. The IRS position is not always
the correct position, but it is always important to understand what
the IRS position is.
We are here to assist.
As in everything, it is important to understand when a specialists can
do something more cost effectively than you can yourself.
James M. Carlson, J.D.