TestWhen you take a distribution from an IRA or another type of qualified retirement plan, you have 60 days to rollover that money into another IRA or the same account. So what happens if, for one reason or another, the money did not get rolled-over within the 60-day period? What […]
On September 21, 2016, the Senate Committee on Finance voted unanimously to end the “Stretch IRA,” as part of the Retirement Enhancement and Savings Act of 2016 (“RESA”). However, before it becomes law, it must be approved by both houses and signed off on by President Trump. The Stretch IRA […]
On October 14, 2016, Governor Chris Christie officially signed legislation implementing a new tax package to raise money for the Transportation Trust Fund to help repair New Jersey’s crumbling infrastructure. But this law also made significant other changes to New Jersey’s tax laws. Most importantly, the new law includes a […]
In August of 2016, the IRS issued long awaited proposed regulations under IRC Section 2704. If adopted, these proposed regulations may significantly reduce the opportunity to apply valuation discounts when making intra-family transfers of interests in various entities. For estate planning attorneys and their clients this translates to impending restrictions […]