In the update Hot off the Presses: IRA Rollover Rule Changes Coming, we highlighted a recent Tax Court interpretation of the one-per-year rule for IRA-to-IRA rollovers, and the IRS’ promise to follow the Tax Court’s interpretation.
As noted in the article, the IRS promised to “withdraw the proposed regulation and revise Publication 590 to the extent needed to follow that interpretation”.
The IRS has begun the process, by partially withdrawing Prop Reg § 1.408-4 (b)(4)(ii) ( click to read).
We will keep you posted.
