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IRA Rollover Account Customer News Alert:

In previous years IRA rollover rules meant that a taxpayer could do one rollover per year for each IRA and would not be taxed on the funds taken from the IRA as long as those funds are deposited into an IRA within 60 days that it is withdrawn. With the rule change, the limit will be applied on an aggregate basis. This means only one rollover per year is allowed for ALL the IRA’s a taxpayer owns. If the funds from one IRA is taken and rolls the money back into the IRA within 60 days, the taxpayer cannot do another tax-free rollover within the following 365 days. This will go into effect January 1, 2015.

Get ahead and start making a tax plan now!

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