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Article Date:
June 2014

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Beware: Court Makes New Dangerous Law on IRA Rollovers

Beginning in 2015, you likely will have only one way to do an IRA rollover.


And it’s all the court’s fault.


The court shocked Alvan Bobrow (and tax professionals around the country) when it overturned a 30-year-old rule on IRA rollovers and ordered Mr. Bobrow to pay thousands in unexpected taxes.1


An IRS publication and proposed regulation supporting Mr. Bobrow’s position had been on the books for 30 years. Yet the Tax Court ruled against Mr. Bobrow and penalized him for taking a position without legal basis!


In a follow-up order explaining his decision, the Tax Court judge said that taxpayers rely on IRS publications “at their own peril.”2




In this article, we make sense of the case and the aftermath and tell you the three things you need to know:



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