Tax Court Decision Limits IRA Rollovers to One Per Year

As the result of a recent U.S. Tax Court decision in Brobow v. Commissioner, T.C. Memo. 2014-21, beginning in January of 2015, you can make only one rollover from an IRA to another (or the same) IRA in any 12-month period, regardless of the number of IRAs you own (Announcement 2014-15). However, you can continue to make as many trustee-to-trustee transfers between IRAs and rollovers from traditional IRAs to Roth IRAs ("conversions") as you want.
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IRS Makes Changes to Offshore Programs; Revisions Ease Burden and Help More Taxpayers Come into Compliance

The Internal Revenue Service recently announced major changes in its offshore voluntary compliance programs, providing new options to help both taxpayers residing overseas and those residing in the United States. The changes are anticipated to provide thousands of people a new avenue to come into compliance with their U.S. tax obligations.
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How To Get Proof Of Social Security Numbers Or Benefits

The Social Security Administration recently announced two changes in how it provides information at its field offices. Effective August 1, 2014, Social Security will no longer provide Social Security Number printouts at field offices. Effective October 1, 2014, it will offer benefit verifications in its field offices only in emergency situations. For more information, please read Social Security's recent bulletin.
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Click on one of the following for additional updated information:
• 2013 Tax Law Summary
• Client Line June 2014 Newsletter
• Tax Report July 2014 Newsletter

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Going forward, our e-newsletters will be sent out quarterly. However, our Client Line and Tax Report will still be updated regularly on our website.