The banks' perspective

Article Abstract:

Bankers' perspectives on 1996 and 1997 federal tax legislation concerning IRAs and other accounts may differ from that of tax practitioners. Roth IRAs, educational IRAs, and medical savings accounts are examples of new accounts for which bankers must provide forms and employee education if it is determined that they are viable products. IRAs present problems when holders will not seek professional advise as to choice of beneficiary and misunderstandings surrounding administration after death. Another issue of note is that banks are fast converting common trust funds into mutual funds.

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Distributions of employer securities from qualified plans - does it get any better than this?

Article Abstract:

The IRS in Notice 98-24 has provided tax practitioners who advise retiring executives with guidance regarding qualified plan employer securities. Current market conditions and recent tax changes have made in-kind qualified plan stock withdrawals attractive. Balancing of tax and investment strategies is advisable. Rollovers into IRAs are preferable from the investment point of view, while rollouts are advantageous for tax purposes with IRC section 402(e)(4)'s effective conversion of ordinary income into long-term capital gain.

Tax Management, Usage, Taxation, Tax accounting, Securities, Retirement planning, Qualified benefit plans

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Family tax planning forum

Article Abstract:

The last quarter of 1998 does not have to be slow for estate and financial planners if they encourage projects requiring long-range services which are useful to their clients. Important and already well publicized is the need many clients will have to convert their IRAs into Roth IRAs. Other potential projects include life insurance trusts and generation-skipping tax exemption allocations and employers' stock qualified plan distributions.

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