Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.
IRS eases a costly tax pitfall for retirement savers Taxpayers who miss the 60-day deadline for transferring money from a retirement account to an IRA can fix the mistake and avoid paying income taxes by explaining their case to the IRS, under new relaxed rules from the agency, according to Money. Taxpayers can make a written self-certification citing one of the acceptable circumstances for why they failed to transfer the money on time. “This is a big deal and it will help a lot of people,” says a CPA. -- Money
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