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April 29, 2017

IRS Extends 60-Day Rollover Deadline: PLR No. 201709023


The IRS extended the 60-day deadline for  a taxpayer, whose children applied for the waiver, citing medical issues, specifically , that the IRA owner showed signs of confusion, memory loss, and other cognitive impairment.  Click here for a copy of the PLR




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Qualified Charitable Distribution (QCD)

Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

Salary Deferral Contribution

Definition A contribution made pursuant to a participant’s election to have a portion of his/her salary/wages  contributed to his/ her employer sponsored plan  rather than

Key Employee

Definition An employee who, at any time during the plan year, is (i) an officer of the employer having an annual compensation greater than $180,000,

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