Individual Retirement Account Answer Book, Twentieth Edition

The continuing popularity and importance of individual retirement accounts as retirement vehicles underscores the necessity for attorneys, accountants, financial planners, and insurance advisors to keep abreast of legislative and regulatory developments in this area.

Individual Retirement Account Answer Book is the source practitioners rely on for the most comprehensive, authoritative coverage of traditional IRAs, Roth IRAs, SIMPLE IRAs, SEP IRAs, Coverdell Education Savings Accounts, and health savings accounts (HSAs).

Individual Retirement Account Answer Book, Twentieth Edition includes several new and extensively revised chapters that brings you up to date on important congressional and administrative agency actions and recent judicial decisions that affect all IRAs, the Coverdell ESA, and Health Savings Accounts, including:

• A new chapter on income tax planning for IRAs, considering how they affect the Medicare surtax on net investment income, cost of Medicare Part B insurance premiums, taxation of Social Security benefits, and application for Medicaid; and containing additional planning tips for rollovers and discretionary distributions
• A new chapter on estate planning for IRAs, which reconsiders planning in light of the new permanent estate tax regime--including the portable estate tax exemption; naming exemption, QTIP, and special-needs trusts as the IRA beneficiary; special considerations for large IRAs; using the IRA for gifts to children, grandchildren, and charities; estate administration; coordination with life insurance; and income in respect of a decedent.
• Expanded discussion of taxation of IRAs by the states and other jurisdictions.
• The American Taxpayer Relief Act of 2012
• President Obama's proposals concerning IRAs
• IRS guidance and private letter rulings important to IRAs
• Inflation adjustment of amounts under the federal Bankruptcy Code