Iras, 401(k), 403(b), 412, 419 Tax Law Analysis

This PodCast is about the Section 72(t) penalty tax on premature distributions and the question, "Is a distribution made to a surviving spouse that was rolled to her IRA but can be traced to her deceased spouse's IRA account eligible for the death benefit exception to Section 72(t)?"  Considering a nearly $100,000 penalty was on the table, the taxpayer in the case of Gee v. Commissioner (127 TC No. 1) certainly hoped the Tax Court would answer "Yes".  Unfortunately for her, the Tax Court answered in the negative.  We look at the facts of her case, as well as the whole question of whether a surviving spouse should elect to treat an IRA as his/her own or take it as a beneficiary.The materials can be downloaded at http://www.edzollars.com/2006-07-29_IRA_Spouse.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com