
Change to the IRA Rollover Rule May Be a Trap for the Unwary
A U.S. tax court ruled earlier this year that taxpayers are limited to one IRA rollover per year regardless of the number of IRAs they hold. This represents an abrupt departure from the long-standing position held by the IRS that a taxpayer could rollover each individual IRA he or she owns once in any 12-month period. [11/14/14]