The IRS clarified how the recently announced change in how it interprets the statutory one-rollover-per-year rule for individual retirement arrangements (IRAs) will affect 2014 rollovers and how the rules will apply starting in 2015 (Announcement 2014-32).
　　Sec. 408(d)(3)(A)(i) permits a tax-free rollover of funds in a taxpayer’s IRA as long as the amount distributed to the taxpayer is paid into an IRA for the taxpayer’s benefit within 60 days, subject to the one-rollover-per-year limit of Sec. 408(d)(3)(B). Prior IRS guidance had applied this rule on an IRA-by-IRA basis. However, the Tax Court in Bobrow, T.C. Memo. 2014-21, applied the rule on an aggregate basis, meaning no matter how many IRAs a taxpayer has, the taxpayer is limited to one rollover per year. In March, the IRS announced it would follow the Bobrow decision (see prior coverage here and here).
　　The application of the one-per-year limit on an aggregate basis will start in 2015, meaning that an individual receiving an IRA distribution on or after Jan. 1, 2015, cannot roll over any portion of the distribution into an IRA if in the preceding one-year period the individual has received a distribution from any IRA that was rolled over into another IRA. As the IRS specifically noted in Announcement 2014-32, a rollover between an individual’s Roth IRAs would preclude a separate rollover within the one-year period between the individual’s traditional IRAs, and vice versa.
　　The announcement also contains a transition rule. For 2015, the IRS will disregard a distribution occurring in 2014 that was properly rolled over to another IRA, in determining whether a 2015 distribution can be rolled over, as long as the 2015 distribution is from a different IRA that neither made nor received the 2014 distribution. The aggregation rule will apply to distributions from different IRAs only if each distribution occurs after 2014.
　　The IRS made it clear that this new rule does not apply to Roth conversions, trustee-to-trustee rollovers, or rollovers between qualified plans and IRAs. It also explained that trustee-to-trustee rollovers include both direct transfers between trustees and rollovers where IRAs issue checks payable to the IRA trustee. The IRS is encouraging IRA trustees to offer to do direct rollovers to individuals requesting rollover distributions so that account holders will not be subject to these rules.
　　高頓網(wǎng)校小編為您介紹美國各所大學(xué)：賓夕法尼亞大學(xué)
　　賓夕法尼亞大學(xué)（University of Pennsylvania ），簡稱賓大，位于賓夕法尼亞州的費(fèi)城，是美國一所著名的私立研究型大學(xué)，八所常青藤盟校之一。創(chuàng)建于1740年，是美國第四古老的高等教育機(jī)構(gòu)，也是美國*9所從事科學(xué)技術(shù)和人文教育的現(xiàn)代高等學(xué)校。獨(dú)立宣言的9位簽字者和美國憲法的11位簽字者與該校有關(guān)。本杰明·富蘭克林是學(xué)校的創(chuàng)建人。賓夕法尼亞大學(xué)University of Pennsylvania 在藝術(shù)、人文、社會(huì)科學(xué)、建筑與工程教育上處于領(lǐng)先地位，其中最為知名的學(xué)科是商學(xué)、法學(xué)與醫(yī)學(xué)。學(xué)校擁有約4,500名教授，近 10,000名全日制本科生與11,000多名研究生。2012年學(xué)校的科研經(jīng)費(fèi)達(dá)到9.23億美元，從事研究的人員包括約4,200名教職工， 870名博士后，3,800名研究生與5,400多名技術(shù)人員。同時(shí)，學(xué)校每年的建設(shè)投入達(dá)到4億美元以上，在著名的常春藤盟校中名列前茅。賓夕法尼亞大學(xué)是是美國大學(xué)協(xié)會(huì)的14所創(chuàng)始校之一，位于美國第五大城市費(fèi)城。它由美國著名科學(xué)家和政治家、獨(dú)立宣言起草之一，避雷針、富蘭克林爐及遠(yuǎn)近兩用眼鏡等的發(fā)明者本杰明·富蘭克林創(chuàng)辦于1740年。由于其對(duì)美國的巨大貢獻(xiàn)，學(xué)校的創(chuàng)始人本杰明·富蘭克林的頭像被印刷在100美元的鈔票上。
　　來源：AICPA China

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