Michael J. Jones, CPA
Publications

BOOKS

Inheriting an IRA, Paddleboard Press, 2014 (www.InheritinganIRA.com)

Inheriting an IRA Professional Edition, Paddleboard Press, 2016 (www.InheritinganIRA.com)

Guide to Electing Out of the 2010 Estate Tax (And Into Modified Carryover Basis),Thompson Jones LLP, 2011

The Pension Answer Book: Special Supplement on Final Regulations Governing Minimum Required Distributions, Panel Publishers, 2002

ARTICLES (most recent listed first)

  1. Temporary Basis Consistency Regulations and How the IRS Says “No” to The Imitation Game, Mar. 8, 2018, Co-author with Keith Schiller, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #2396, http://www.leimbergservices.com/
    Abstract: The income tax basis of inherited property must not be consistent with values reported in estate tax returns required to be filed. Reporting requirement apply even more broadly. Temporary and proposed regulations detail how basis consistency rules and reporting will operate in practice. The proposed regulations request comments from the public.
  2. CRUT Valuations After 2016 Consolidated Appropriations Act – Some Observations, Feb. 9, 2015, Steve Leimberg’s Charitable Planning Email Newsletter – Archive Message #245 http://www.leimbergservices.com/
    Abstract: The amount of an income tax deduction for charitable contributions in the case of a charitable remainder unitrust (“CRUT”) has been clarified under the Protecting Americans From Tax Hikes Act of 2015, Subtitle C, § 344. The new rule appears to apply whether there’s a contribution of the entire non charitable CRUT interest to the charitable remainder beneficiary, a bargain sale of all interests or a partial release of interests.
  3. Beware of Hidden Problems That May Derail Client’s IRA Rollover, Feb. 3, 2015, http://wealthmanagement.com/retirement-planning/beware-hidden-problems-may-derail-clients-ira-rollover
    Abstract: When a loan to a plan participant goes into default, a deemed distribution occurs. The cure is an IRA rollover. But advisors often don’t know their client has defaulted. A waiver of the 60-day rollover period might be available.
  4. IRA Qualified Charitable Contributions Reinstated, Made Permanent, Trusts & Estates, Dec 21, 2015, http://wealthmanagement.com/retirement-planning/ira-qualified-charitable-contributions-reinstated-made-permanent
    Abstract: How qualified charitable distributions (now a permanent federal tax law) work.
  5. Selected Recent Federal Tax Developments Affecting Estate Planning and Administration, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #2368, http://www.leimbergservices.com/
  6. The Rainbow Reaches Retirement Benefits, Trusts & Estates, January 2015, http://wealthmanagement.com/retirement-planning/rainbow-reaches-retirement-benefits
    Abstract: Summary of 2015 developments relating to retirement benefits.
  7. Mike Jones & DeeAnn Thompson on Steinberg v. Commissioner: The Tax Court Cuts the Cord on McCord & Provides Guidance for Net-Net Gift Valuation Discounts, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #2357
    Abstract: Abandoning its position subsequently overturned by the 5th Circuit Court of Appeals, the Tax Court has held that valuation of a gift may be reduced by both the gift tax and the estate tax payable on the gift tax if death occurs within three years of the date of gift because the gift was subject to a negotiated agreement wherein the donees were required to pay those taxes.
  8. IRS Notice Affects Retirement Account Death Benefits and IRA Rollovers, Trusts & Estates/Wealth Management
    Abstract: IRS version of statutory notice fails to advice death beneficiaries of Roth IRA conversion rights, possibly causing employer-sponsoired retirement plans to fall out of compliance.
  9. Mike Jones & DeeAnn Thompson: How Tax Practice Is Affected by the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #2334 (http://www.leimbergservices.com/openfile.cfm?filename=D:\inetpub\wwwroot\all\lis_notw_2334.html&fn=lis_notw_2334
    Abstract: Basis consistency requirements and other Federal tax changes helped finance the highway bill.
  10. Crippled CRUTs http://wealthmanagement.com/estate-planning/crippled-cruts
    Abstract:  In a recent Tax Court case, an estate tax deduction was denied because the requirement that the actuarial value of each of two charitable remainder unitrusts (CRUTs) was less than 10 percent, and so failed a qualification. That result proceeded from the court’s holding that charitable remainder unitrust (CRUT) valuations must exclude consideration of a trust provision limiting payments to net income.
  11. “Mike Jones & Bob Keebler on IRS Notice 2015-49: Pension Annuity Early Cashouts to Be Foreclosed in Coming Regulations”, Steve Leimberg’s Employee Benefits and Retirement Planning Newsletter – Archive Message #647
    Abstract: A regulation governing defined benefit pension plans as been clarified.
  12. “Mike Jones & Michelle Ward on In Re Kellerman: Bankruptcy Court Finds Prohibited IRA Transactions Spoil Exclusion”, Steve Leimberg’s Asset Protection Planning Email Newsletter – Archive Message #301 (http://www.leimbergservices.com/membersonly.cfm?nl=lis_app_301)
    Abstract: Because an IRA was found to have engaged in a prohibited transaction, bankruptcy protection sought for the IRA wasn’t available.
  13. “IRS Notice Affects Retirement Account Death Benefits and IRA Rollovers”, Trusts & Estates, Sept. 1, 2015, http://wealthmanagement.com/retirement-planning/irs-notice-affects-retirement-account-death-benefits-and-ira-rollovers
    Abstract: The IRS’s safe harbor notice for qualified retirement plan administrators to provide to death beneficiaries misses an important option: conversion to a Roth IRA.
  14. New Law Lowers Age Threshold for Certain Early Distributions, Trusts & Estates, Jul. 13, 2015, http://wealthmanagement.com/retirement-planning/new-law-lowers-age-threshold-certain-early-distributions
    Abstract: The age when distributions from retirement accounts of certain state and federal employees without facing the 10 percent early distributions tax has been lowered to age 50.
  15. “Watershed Year”, Trusts & Estates, January 2015
    Abstract: Significant 2014 retirement account developments for estate planners
  16. “New Planning Opportunities for Multiple Distributions of Retirement Benefits”, Trust & Estates, Sept. 22, 2014, http://wealthmanagement.com/retirement-planning/new-planning-opportunities-multiple-distributions-retirement-benefits
    Abstract: IRS Notice 2014-54 affects the allocation of pre-tax and after-tax amounts
  17. “Hedging Against Longevity In Retirement Plans”, Trust & Estates, Jul. 7, 2014 (http://wealthmanagement.com/retirement-planning/hedging-against-longevity-retirement-plans)
    Abstract: Final regulations square deferred life annuities with required minimum distributions
  18. “The 5 Percent Solution”, Trusts & Estates, June 2014, p. 38
    Abstract: When charitable remainder trusts are named as death beneficiary of a retirement account, everyone can benefit.
  19. “Seeing Double”, Trust & Estates (http://wealthmanagement.com)
    Abstract: The Tax Court has overturned IRS Publication 590’s long-standing rule that the prohibition on multiple IRA rollovers within a 12-month period applies separate to each of several IRAs. But nowhere is Publication 590 even mentioned in the court’s opinion
  20. “An Ounce of Prevention”, Trusts & Estates, January 2014, p. 20
    Abstract: Summary of recent retirement plan developments and trends affecting estate planners.
  21. “Net, Net Gift Interrelated Computation Solved”, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #2166, available online at: http://leimbergservices.com (subscription service)
    Abstract: Formula derived and illustrated for solving interrelated computation discussed in “Net, Net Gift Computation, Revisited”, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #2158.
  22. “Net, Net Gift Computation, Revisited”, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #2158, available online at: http://leimbergservices.com (subscription service)
    Abstract: Actuarial computation discussed and derived for valuing gift when donees assume liability for estate taxes that become payable if the donor dies within three year of making a gift.
  23. “Game Changer”, Trusts & Estates, September 2013, coauthor with Michelle L. Ward
    Abstract: The U.S. Supreme Court’s holding in U.S. v. Windsor (federal laws must recognize same sex marriages because Section 3 of the Defense of Marriage Act is unconstitutional) affects retirement plans and beneficiaries.
  24. “Alternative Investments in IRAs”, Trusts & Estates, June 2013, coauthor with Michelle L. Ward
    Abstract: IRAs may invest nontraditionally, but know how to navigate complications and avoid IRA-killing prohibited transactions.
  25. “Sixteen Examples of Qualified Charitable Distributions from Individual Retirement Accounts”, WealthManagement.com (Trusts & Estates), http://wealthmanagement.com/retirement-planning/sixteen-examples-qualified-charitable-distributions-individual-retirement-accoun (subscription service), January 24, 2013.
    Abstract: Examples explore practical application of QCDs.
  26. “A New Twist On an Old Election”, WealthManagement.com (Trusts & Estates), http://wealthmanagement.com/philanthropy/new-twist-old-election (subscription service), January 7, 2013.
    Abstract: Taxpayers may treat qualified charitable distributions completed during January 2011 as made on Dec. 31, 2010; may contribute distributions take in December and January
  27. “A Break in the Clouds”, Trusts & Estates, January 2013, p. ___
    Abstract: Summary of significant 2012 retirement plan developments.
  28. “Clawing Back at Clawback”, Trusts & Estates, November 2012, p. 28
    Abstract: It may be possible to deduct so-called clawback estate taxes from the amount of taxable gifts, based on actuarial principles.
  29. “Avoid this Common Error when Using IRS Actuarial Tables”, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1984, available online at: http://leimbergservices.com (subscription service)
    Abstract: When using IRS actuarial tables, “age” means nearest age, not attained age
  30. “How to Correctly Determine Annuity’s Present Value”, WealthManagement.com (Trusts & Estates), June 2012
    Abstract: When using IRS actuarial tables, “age” means nearest age, not attained age.
  31. “IRS Grants Surviving Spouse’s Individual Retirement Account Rollover Request” http://wealthmanagement.com/retirement-planning/irs-grants-surviving-spouse-s-individual-retirement-account-rollover-request, (subscription required) June 29, 2012
    Abstract: In Private Letter Ruling 201225020, the IRS said that a surviving spouse could roll over an IRA of her late husband, even though a trust was named as beneficiary. The ruling is notable because the IRA became the property of a subtrust subject to a power of withdrawal by the surviving spouse not because surviving spouse was the trustee but because the trust, read together with applicable state law, made it so.
  32. “Mike Jones on Estate of Anne Morgens: QTIP Gift Tax Held Includible in Estate of Surviving Spouse & What It Means for Planners”, Steve Leimberg’s Estate Planning Email Newsletter - Archive Message #1961, available online at: http://leimbergservices.com
    Abstract: The Circuit Court of Appeals for the Ninth Circuit has held that gift taxes pain on the income interest of qualified terminable interest property is included in the estate of a surviving spouse who makes a lifetime disposition of the income interest in such property and then dies within three years.
  33. “Five-year Rule Proposal”, Trusts & Estates Wealth Watch, available online at http://trustsandestates.com/wealth_watch/five-year-rule-proposal-death-tax-middle-class-0222/ (Subscription required)
    Abstract: A proposal of Max Baucus (D.-Mont.) to force most nonspouse retirement account beneficiaries to fully distribute the account and pay income taxes within five years of inheriting is misguided.
  34. “Grasping Clawback’s Applicability & Opportunities”, Steve Leimberg’s Estate Planning Email Newsletter - Archive Message #1925, available online at: http://leimbergservices.com
    Abstract: An in-depth analysis of how the tax laws are likely to cause estates of decedents dying after 2012 to wind up paying estate taxes on gifts made during 2011 or 2012, even though those gifts were sheltered from gift taxes. Planning points are also discussed.
  35. “Response to Reader Questions: Yes, Clawback is Real”, Trusts & Estates Wealth Watch, available online at http://trustsandestates.com/wealth_watch/clawback-tax-rule-confusion-0125/
    Abstract: A law set to expire is creating confusion. Some say clawback can’t happen. This article says it can, and how clawback works.
  36. “Who’s Afraid of (Gasp!) CLAWBACK?”, Trusts & Estates Wealth Watch, available online at http://trustsandestates.com/wealth_watch/clawback-gifts-estate-taxes-0118/
    Abstract: Estates of decedents dying after 2012 could wind up paying estate taxes on gifts made during 2011 or 2012, even though those gifts were sheltered from gift taxes. But that shouldn’t stop most from making taxable gifts.
  37. “The Economy and Other Retirement Account Mysteries”, Trusts & Estates, January 2012, p. 31
    Abstract: Annual update on retirement accounts in the context of trusts and estates.
  38. “IRAs Would Be Affected by Proposed Regulations on Alternate Valuation”, Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #595, available online at: http://leimbergservices.com
    Abstract: Proposed regulations on alternate valuation will affect estate tax returns of decedents who die with retirement assets.
  39. “IRS Provides Relief to Executors of 2010 Decedents”, Trusts & Estates Wealth Watch, available online at http://trustsandestates.com/wealth_watch/irs-notice-2011-76-deadlines-0928/
    Abstract: IRS Notice 2011-76 extends certain estate tax filing deadlines
  40. “Using Formula Allocations to Avoid Wasting Allocating Basis Increase”, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message # 1869, available online at: http://leimbergservices.com
    Abstract: When the election is made out of the 2010 estate tax, planners may want to consider using a formula allocation to avoid wasting any part of the Basis Increase allowance. Basis Increase allowance allocations will be wasted to the extent the IRS successfully challenges and lowers the fair market value (FMV) of any asset that received an allocation of Basis Increase to FMV.
  41. “Is the Disclaimer Delivery Due Date 9/17 or 9/19?”, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1865, available online at: http://leimbergservices.com
    Abstract: For making a disclaimer (recognized for Federal gift tax purposes as a “qualified disclaimer”) of property passing from a decedent who died during 2010 through December 17, the last date for satisfying the delivery requirement is Saturday, September 17, 2011. Because it falls on a Saturday, the question arises whether the date is the following Monday, September 19.
  42. How to Murder a 2010 Roth IRA Conversion, Trusts & Estates, September 2011, p.51
    Abstract: Roth IRA conversions can be “undone” (and income taxation of the conversion reversed) by making a recharacterization. Evaluating whether recharacterization is a good idea is the first step that should be taken. Technical requirements and execution of recharacterizations are detailed.
  43. “Mike Jones & the Two Faces of QTIP in 2010” Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1849, available online at: http://leimbergservices.com
    Abstract: QTIPs available under 2010 carryover basis rules that apply when the election out of the 2010 estate tax look alike, but have mutually exclusive tax consequences. But if the election out of the 2010 estate tax is made, estate planning documents creating estate tax QTIPs may have to be evaluated to determine whether the QTIP can be funded.
  44. “Mike Jones on PLR 201117042: Can a Grantor Trust Hold an IRA?” Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #575, available online at: http://leimbergservices.com
    Abstract: Although the IRS has held in several private letter rulings that a death beneficiary’s interest in an IRA may be transferred to a special needs trust without causing a taxable distribution to occur, the IRS has now held in PLR 201117042 that the creator of an IRA can’t do the same thing. There’s no basis for the difference in treatment.
  45. “The 2010 Tax Act Election” Trusts & Estates, April 2011, p.18
    Abstract: Executors of estates of decedents dying last year have a choice: Pay the retroactive estate tax and get a date-of-death basis or opt out and into modified carryover basis. It’s not a decision for the faint of heart.
  46. “Mike Jones & PLR 201109014: Taxpayer Gets a Happy Ending” Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1805, available online at: http://leimbergservices.com
  47. “Morphing Beneficiaries’ Required Minimum Distributions into Beneficiaries’ Own Retirement Funds” Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #572, available online at: http://leimbergservices.com
  48. “Juggling Accounts” Trusts & Estates, January 2010, p. 17
    Abstract: 2010 update of IRAs and retirement plans in estate planning.
  49. “Portability Never Sounded So Good” Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1738, available online at: http://leimbergservices.com
    Abstract: There’s a new rule that permits the Applicable Exclusion Amount (the amount commonly thought of as the amount “exempt” from estate taxes) to increase where a decedent is survived by his or her spouse. The shorthand expression for that increase is “portability,” and it’s put a smile on the face of many planners.
  50. “New Law Extends Time to Make 2010 QCD Elections by One Month” Trusts & Estates Wealth Watch News, Dec 22, 2010 12:00 PM (email service) www.trustsandestates.com
    Abstract: Qualified Charitable Distributions from IRAs may be made in 2010 and 2011. A special rule permits QCDs made during January 2011 to be treated as made on 12/31/2010. Taxpayers may elect to treat qualified charitable distributions completed during January 2011 as made on Dec. 31, 2010
  51. Is a Roth IRA Conversion Right for You? Bell Investment Advisors White Paper, November 2010, available at http://www.bellinvest.com/
  52. “The Moratorium is Over,” Trusts & Estates, November 2010, p.49
    Abstract: A guide to restarting required minimum distributions from IRAs that were suspended in 2009.
  53. “PLR 201033023: Did the IRS Get It Wrong on Request to Extend Time to Elect Alternate Valuation?” Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1698, available online at: http://leimbergservices.com
    Abstract: The IRS appears to have ignored its own regulations.
  54. “Drafting Estate Plans in 2010,” Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1670, available online at: leimbergservices.com
    Abstract: How bequests to QTIP and exemption trusts can be restructured temporarily to fit the limited basis step-up election for property of decedents dying during 2010.
  55. “Chase Away IRA Spousal Rollover Demons,” Trusts & Estates, April 2010, p. 44
    Abstract: A regulation on required minimum distributions isn’t a barrier to spousal IRA rollovers when a trust is named as beneficiary of an IRA.
  56. “Roth IRA Conversions, Nontraditionally,” Trusts & Estates, March 2010, p. 36
    Abstract: Roth IRA conversions of retirement accounts holding nontraditional investments introduce twists. Here’s what you need to know to make the journey safe.
  57. “FLASH: Notice 2010-19 & Guidance on IRC Sec. 2511(c)”, Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1595, available online at: http://leimbergservices.com
    Abstract: Some advisors have suggested that gifts to wholly-owned grantor trusts during 2010 will not be completed gifts for gift tax purposes. In IRS Notice 2010-19, the Service announced that gifts to grantor trusts during 2010 may be completed gifts using the same criteria as was in effect on December 31, 2009. Stated differently, 2010 did not usher in new gift tax opportunities for gifts made to grantor trusts during 2010.
  58. “The North Winds Howled”, Trusts & Estates, January 2010, p. 18
    Abstract: 2009 Recent developments in retirement plans and estate planning.
  59. “Get Ready for Roth IRA Conversions”, Estate Planning & California Probate Reporter, December, 2009
  60. “IRS Notice 2009-75: NUA Benefits Lost in Roth IRA Rollovers” Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #501, available online at: http://leimbergservices.com
    Abstract: The IRS has made it clear that all special income tax benefits for employer stock in that employer’s retirement plan are lost when rolled over to a Roth IRA.
  61. “Spouse May Rollover Community Property IRA Left to Trust”, Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #494, available online at: http://leimbergservices.com
    Abstract: The IRS allows a spousal rollover even though the IRA was left to a trust, and the IRA speaks out on community property.
  62. “FLASH – Private Letter Ruling 200909074 – A Tempest in a Teapot”, Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #500, available online at: http://leimbergservices.com
    Abstract: Private Letter Ruling 200909074, allowing a Roth IRA conversion can’t be read to mean special treatment for after-tax contributions. The ruling does not say whether an employee can roll over only the after-tax contributions to a Roth IRA without paying income taxes on that after-tax money while, at the same time, avoiding a rollover of the taxable interest.
  63. “Nice Booby Prize”, Trusts & Estates, June 2009, p. 17
    Abstract: When, if ever, might trusts that are includible in the estate of a decedent avoid income in respect of decedent (IRD) and receive fresh basis? Your knee-jerk answer may be “IRD is still IRD when held in trust.” But look beyond the surface, and explore how IRD may not be IRD when held in trust.
  64. “Benz – IRA Distributions Escape Penalty Tax & Were Not Modification”, Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #484, available online at: http://leimbergservices.com
    Abstract: The Tax Court, in Gregory T. Benz, et ux. v. Commissioner, 132 T.C. No. 15, Docket No. 15867-07 (May 11, 2009), determined that an IRA distribution that escapes the 10 percent tax on pre-age 59 ½ distributions because it is used for qualified higher education expenses does not constitute a modification to a series of substantially equal periodic payments.
  65. “Can a Roth IRA loss be netted against Traditional IRA income?” Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #483, available online at: http://leimbergservices.com
    Abstract: Income tax laws are unclear about whether a deductible loss arising from a complete distribution of all Roth IRAs of a taxpayer may be deducted against income arising from taxable distributions of a traditional IRA. There may be a basis for doing so, and it seems like it’s fair.
  66. “Alternate Valuation Date and IRAs,” Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1397, available online at: http://leimbergservices.com
    Abstract: In this down economy, it’s good there’s an estate tax election that may be made to value assets six months after death. When it comes to IRAs, applying the
  67. “Left Reeling,” Trusts & Estates, January 2009, p. 46
    Abstract: A roundup of 2008 developments in estate planning for retirement benefits.
  68. “The Feds Must Stop Hounding the Elderly,” Trusts & Estates, December 2008, p. 62
    Abstract: It’s time to change who’s responsible for making required minimum distributions. Let’s stop expecting the elderly, who too often suffer from ever-diminishing capacity, to initiate required minimum distributions from IRAs, then, if they forget, hit them with 50 percent penalties—plus interest!
  69. “2008 Year End Estate Planning – Trying Times, and Tax Uncertainty,” Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #1381, available online at: http://leimbergservices.com
  70. “Rescue Plans for IRAs Left to Marital Trusts,” Coauthored with Steven B. Gorin, Trusts & Estates, November 2008, p. 52
    Abstract: The Uniform Principal and Income Act has been amended to accommodate an IRS safe harbor for the estate tax marital deduction. States should adopt this change immediately to protect against inadvertent loss of the marital deduction, and the change should be made to apply to all of UPIA Section 409.
  71. “Disappearing Act: How PPA Taxes NUA in a Roth IRA Conversion,” Journal of Pension Benefits, Autumn 2008, P.37
  72. “When the Stretch Snaps,” Coauthored with Natalie Choate,  Trusts & Estates, September 2008, p. 48.
    Abstract: Inadvertent IRA distributions deprive some of the ability to stretch out distributions over a lifetime, and sometimes there’s no fix. A model for quantifying damages is proposed.
    Correction: The article incorrectly stated two amounts on page 50, in the first of the article’s two financial illustrations. The corrected illustration should read: “Jack cashes out his $1 million IRA immediately, while Jill waits one year to do so. At the end of the year, Jack’s $600,000 after-tax cash out should have grown at 6.7 percent (after-tax) to $640,200. And the present value of Jill’s $660,000 cashout was $618,556.” Note that the article correctly stated that Jill’s present value beat Jack’s by $18,556.
  73. “IRAs and Wash Sale Rules,” Ed Slott’s IRA Advisor, June 2008, p. 5
    Abstract: For years, some advisors had suggested using your IRA or Roth IRA to avoid wash sale rules (income tax loss on sale of security disallowed when substantially identical security acquired 30 days before or after loss incurred). But a recent IRS Revenue Ruling says that won’t work. The IRS might be wrong about that.
  74. “A Costly and Unnecessary Detour,” Trusts & Estates, May 2008, p. 25
    Abstract: Taxpayers are forced to pay for private letter rulings so the Service can tell them individually what it should declare to all: surviving spouses can roll over a decedent’s retirement plans – even when death benefits are left to them through a trust or estate.
  75. “Tax Preparation Alert”, Trusts & Estates, March 2008. p. 59
    Abstract: The IRS says that traditional IRAs and Roth IRAs must be scrutinized for wash sales. But the Service’s position on this issue should be scrubbed.
  76. “PLR 200809043 – Roll-overs No Push-Over But…”, Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #453, available online at: http://leimbergservices.com
    Abstract: The IRS is authorized by law to grant hardship waivers of the 60-day deadline for rolling over retirement plan distributions. Some have said the IRS is inappropriately trying to tighten the criteria for granting waivers. Is the IRS headed for an abuse of discretion suit?
  77. “Mike Jones on Roth IRA Rollovers by Non Spouse Beneficiaries,” Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #447, available online at: http://leimbergservices.com
    Abstract: Notice 2008-30, Q&A-7 fairly stunned practitioners (including me) with its revelation that a Roth IRA conversion could be accomplished by a beneficiary of an non-IRA retirement plan by using the inherited IRA rules ushered in by the Pension Protection Act of 2006 (PPA).
  78. “Tax Preparation Alert,” Trusts & Estates, March 2008, p. 59
    Abstract:  The IRS says that traditional IRAs and Roth IRAs must be scrutinized for wash sales. But the Service’s position on this issue should be scrubbed.
  79. “Count Our Blessings,” Trusts & Estates, January 2008, p. 52
    Abstract: Annual update on estate planning for retirement benefits. 2007 was a very good year.
  80. “Mike Jones’ Client Letter – You Have Inherited My IRA,”  Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #429, available online at: http://leimbergservices.com
  81. “There’s an IRA Trap in Community Property States,” Trusts & Estates, November 2007, p. 32
    Abstract: If a couple EVER lived in a CP state, there could be problems. A deceased spouse’s bequest of his or her CP interest in the IRA of the surviving spouse could create a tax disaster.
    Errata: The article contains a map that points to Colorado and incorrectly identifies it as New Mexico.
  82. “Opt Out of QTIP?” Trusts & Estates, October 2007, p. 20
    Abstract:  The credit for tax on prior transfers can be based on an income interest.  It’s like a two-for-one sale.
  83. “Whoops!” Trusts & Estates, May 2007, p. 63
    Abstract:  If an individual retirement plan fails to make required minimum distributions for any reason, there’s a 50 percent tax on the shortfall.  Luckily, the Internal Revenue Service can waive that tax.  But does Revenue Procedure 2006-27 apply?
  84. “IRS ‘Clarifies’ Rules for Inherited IRAs,” Trusts & Estates Wealth Watch News, Vol 2, No. 3, March 21, 2007 (email service)
    Abstract: The IRS has flip-flopped on whether retirement plans must (versus may) provide that non-spouse beneficiaries may make a direct rollover to an inherited IRA. Plans may, but aren’t required to do that. Let’s hope Congress corrects this.
  85. “Face The Fear,” Trusts & Estates, February 2007, p. 50
    Abstract: Family Business Succession Planning takes a disciplinary team of professionals.
  86. “Retirement Benefits: It Was a Pretty Good Year,” Trusts & Estates, January 2007, p. 34
  87. “Do Roth IRA Conversions Offer a Brand-NUA Opportunity?” Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #390, available online at: http://leimbergservices.com
    Abstract: A literal reading of the Internal Revenue Code creates a new opportunity for converting a qualified retirement plan holding employer securities to a Roth IRA. It’s way too good to be true.
  88. “IRA Opportunity” Trusts & Estates Wealth Watch News, November 29, 2006 (email service)
  89. “Mike Jones and Bob Keebler’s No-Roth 401(k)-Left-Behind Program,” Steve Leimberg’s Employee Benefits and Retirement Planning Email Newsletter – Archive Message #389, available online at: http://leimbergservices.com
  90. “Coping with the IRA Raid,” Trusts & Estates, September 2006, p. 46.
  91. “Moving Inherited IRA Funds,” Ed Slott’s IRA Advisor, July 2006
  92. “Transferring IRAs,” Trusts & Estates, April 2006, p. 38
  93. Co-author, “The Opportunity GRAT ‘OPGRAT’ Can Reward Success and Minimize Adverse Tax Consequences,” Estate Planning, March 2006, p. 13
  94. “A Brass Ring for IRD,” Trusts & Estates, February 2006, p. 20.
  95. “The Exceptional Growth Gift Trust – A Client-Oriented Letter,” Steve Leimberg’s Estate Planning Email Newsletter – Archive Message #918, 19-Jan-06
  96. “IRS Resolves IRA Disclaimer Dilemma,” 109 Tax Notes 478 (Oct. 24, 2005)
  97. “QDRO Confusion Leads to Audit, Tax Court,” Family Law News, Vol 27, No. 3
  98. “Retirement Plan Rollovers and Transfers, Including Roth IRA Conversions and Recharacterizations,” Michael J. Jones and Barry C. Picker, Proceedings of the New York University 63rd Institute on Federal Taxation, Chapter 24
  99. “The Opportunity GRAT (OPGRAT),” Richard A. Oshins and Michael J. Jones, Practitioner’s Strategies, CCH Estate Planning Expert Library (2005)
  100. “Surviving Spouse’s IRA Rollover Fails; Relief Granted Posthumously,” 108 Tax Notes 425 (July 25, 2005)
  101. “Trading on Interests in Trusts Holding Unrealized IRD,” 107 Tax Notes 211 (Apr. 11, 2005)
  102. “Required Beginning Date Deferred by Rollover,” 106 Tax Notes 451 (Jan. 24, 2005)
  103. “IRS, Don’t Expand Condition for Defeating Predeceased Parent Rule,” 105 Tax Notes 103 (Oct. 4, 2004)
  104. “Can Predeath IRA Withdrawals be Rolled Over Posthumously?” 103 Tax Notes 1632 (June 28, 2004)
  105. “Follow-Up to Article on Entity Elections for Trusts,” 102 Tax Notes 1675 (Mar. 29, 2004)
  106. “Roth IRA Conversion Could Require Make-Up Distributions,” 102 Tax Notes 760 (Feb. 9, 2004)
  107. “Distribution Tax Planning: Not Just Required Minimum Distributions,” Proceedings of the New York University 62nd Institute on Federal Taxation, Chapter 26, Matthew Bender & Company, Inc.
  108. “Temporary Bliss: An Entity Election for Trusts,” 101 Tax Notes 1304 (Dec. 15, 2003)
  109. “Tax Court: Exception to Early Withdrawal Penalty Is Limited,” 101 Tax Notes 625 (Nov. 3, 2003)
  110. “Reform Madness: Does Tinkering With Trust Income Incur Gift Tax?” 97 Tax Notes 1715 (Dec. 30, 2002)
  111. “Taxes, Options, and Deferred Comp. Plans on Divorce,” Tax Notes, Sept. 9, 2002, p. 1500
  112. “Clarification Still Needed Under RMD Regulations,” Tax Notes, July 29, 2002, p. 699
  113. “IRS Issues Final Regulations on Required Minimum Distributions,” Aspen Publishing, web page
  114. “Getting Out of the Penalty Box,” Ed Slott’s IRA Newsletter, March 2002, p. 7 
  115. “Preserving Capital Loss Deductibility in Estates,” Tax Notes, February 18, 2002, p. 887
  116. “A Rainy-Day Guide to Accessing Retirement Benefits,” Tax Notes, December 17, 2001, p. 1606; Reprinted, The Monthly Digest of Tax Articles, May 2002
  117. “Stock Options, Community Property, and Divorce,” Tax Notes, Sept. 10, 2001, p. 1443; Reprinted, Family Law News, State Bar of California Family Law Section, Vo. 24, No. 3
  118. “CPA Asks Service to Clarify MRD Calculations Under Proposed Regs,” Tax Notes, June 11, 2001, p. 1854
  119. “Life Expectancy of a Very Young Retirement Plan Beneficiary,” Tax Notes, May 21, 2001, p. 1343
  120. “Proposed Income Definitions Impact CRUTs,” Tax Notes, May 14, 2001, p. 1133
  121. “Incentive Stock Options and a Post-Exercise Decline in Value,” Tax Notes, Feb. 5, 2001, p. 799
  122. “While You Were Sleeping, Did Your IRA Roll Over?,” Tax Notes, July 5, 1999, p. 97
  123. “Chasing the Elusive Zero-Out GRAT,” Tax Notes, Oct. 16, 2000, p. 398
  124. “Estate Planning Implications of Bunney: A Carrot or a Stick?,” Tax Notes, Aug. 14, 2000, p. 921
  125. “Guidance on QTIP Elections and IRAs Offers Slim Benefits,” Tax Notes, May 15, 2000, p. 961
  126. “Avoiding the Family-Owned Business Deduction Recapture Tax,” Tax Notes, Jan. 17, 2000, p. 381
  127. “Roth IRA Gifts May Terminate Income Tax Benefits,” Tax Notes, June 1, 1998, p. 1156
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  129. “Tailoring With An Unreliable Measuring Tape,” Trusts and Estates, Vol. 140, No. 2, February 2001, p. 71
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  135. “Split Purchase of Personal Residence Achieved Within Qualified Personal Residence Trust,” CCH Federal Tax Weekly, Practitioner’s Corner, February 18, 1999
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  137. “Fine Tuning the Marital Deduction, Jerry A. Kasner and Michael J. Jones, Proceedings of New York University’s 56th Institute on Federal Taxation 1998, Matthew Bender & Company, Inc.
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  140. “Splitting Heirs: Community Property and IRAs,” Ed Slott’s IRA Newsletter, June 2001, p. 6
  141. “The IRS Revises Proposed Minimum Distributions Regulations Or: Some Demons Banished,” Aspen Publishing, Web Page
  142. “Characterizing CRT Distributions After TRA ’97,” Tax Notes, Tax Analysts, Vol. 78, No. 4, January 26, 1998, p. 455
  143. “Helping Clients Understand Percentage-Of-Completion Accounting,” Journal of Accounting, June 1988 p. 141