Stunning New IRA Rollover Ruling

This ruling by the U.S. Tax Court is being called a game changer for the approximately 50 million U.S. households that own individual retirement accounts. The court recently declared that the one-rollover-per-year rule applies to all of a taxpayer’s IRAs rather than to each IRA separately. The ruling clearly contradicts IRS Publication 590, which clearly states that an IRA owner can rollover their accounts once a year on a “per-IRA” basis. This article from Marketwatch explains the ramifications of the new ruling in detail. Continue reading.