IRS Stresses Annual IRA Rollover Limits in Withdrawal of Proposed Rules

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Taxpayers can have only one rollover per year from an individual retirement account to another IRA, rather than one rollover per IRA per year, the Internal Revenue Service said in announcing a partial withdrawal of a notice of proposed rulemaking.
The IRS, in its July 10 withdrawal of the proposed rules (REG-209459-78, RIN 1545-BL98), said the policy change is being made in light of the U.S. Tax Court's January ruling in Bobrow v. Commissioner. In that case, the Tax Court held that an individual couldn't make an IRA-to-IRA rollover if such a rollover had been made in the preceding one-year period (19 DTR K-4, 1/29/14).