Capital Gains
In recently issued Notice 2009-82, the Internal Revenue Service has provided guidance to taxpayers with respect to their ability to roll over (and therefore avoid tax) on any required minimum distributions they have received in 2009 from certain qualified retirement plans and individual retirement accounts. This guidance includes the extension, until Nov. 30, of the statutory 60-day rollover period. The ability to roll over these distributions was enacted as part of the Worker, Retiree and Employer Recovery Act of 2008, or WRERA, and is intended to provide taxpayers with relief from the consequences of the crash of the financial markets in 2008.
