Ozimkoski v. Commissioner, Docket No. 3622-11 (2016): IRA Distributions

In Ozimkoski v. Commissioner,  Docket No. 3622-11, filed December 19, 2016, the Tax Court addressed the following issues:

  1. whether petitioner’s individual retirement account (IRA) distributions totaling $174,597.17 were taxable income to her;
  2. whether petitioner’s IRA distributions were subject to the section 72(t) 10% additional tax;
  3. whether the petitioner was liable for the
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In the Pursuit of Domestic Tranquility – Matrimonial Attorneys Should Follow the Bouncing Beneficiary Designations by Andrew L. Oringer, Albert Feuer

Andrew L. Oringer and Albert Feuer have made available their article, “In the Pursuit of Domestic Tranquility – Matrimonial Attorneys Should Follow the Bouncing Beneficiary Designations,” published at  43 Comp. Plan. J. 43 (March 6, 2015).  The Abstract reads as follows:

The Supreme Court, in Kennedy v. Plan Administrator for DuPont Savings

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Cash-Balance Plans Surge

Miriam Rozen, of Financial Planning Magazine, writes that cash-balance retirement plans are surging in popularity following a favorable IRS ruling.  Her article begins as follows:

A recent favorable IRS ruling has generated some buzz on cash-balance retirement plans, and advisors should expect their popularity to rocket among business-owning clients and

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The Problem With Naming A Trust As The Beneficiary Of An Annuity, And Using A Beneficiary Designation With Restricted Payout Form As An Alternative

Michael Kitces writes about issues that arise when naming trust as a retirement account designated beneficiary. Michael’s article begins as follows:

Retirement accounts and annuities used as accumulation vehicles can create significant tax-deferred account balances over time, with the caveat that eventually the tax bill must still come due. If

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Proposals For Eliminating Stretch IRAs, Repealing NUA, And The $3.4M Retirement Account Cap In The FY2016 Treasury Greenbook

Michael Kitces reports on the Treasury Greenbook proposals re retirement plans.  His post begins as follows:

Every year, the proposed changes to the tax laws encapsulated in the President’s budget request for the Federal government are recorded in the Treasury Greenbook, which is then taken under advisement by Congress to

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Winter Getaways Raises Medical Expenses

As retirees move away from up north to Florida, they are likely to face more medical tests than they would have done back home. Since Medicare has strict regulations on prices and procedures of medical testing, doctors can easily increase the items and volumes of testing. According to researches, Florida, … Continue reading

New Book Published: Social Security Works

Co-authors Nancy J. Altman and Eric R. Kingson have their new book on the social welfare system just published. Both of them are very supportive expanding the current social welfare system and believe that doing so will achieve “greater economic security for all of America’s working families.” They explained in … Continue reading