President Obama and GOP Tax Cuts Extension Could Extend the IRA Rollover Provision
(Dec. 7, 2010) President Obama and the Republicans in Congress have forged an agreement on a two-year extension of several tax cuts. It is AFP's hope that an extension of the IRA Rollover provision will be included in the final iteration of that agreement.
Sen. Baucus (D-MT), Chair of the Senate Finance Committee, introduced the Middle Class Tax Cut Act of 2010 last Friday that included a two-year extension of the IRA Rollover (through Dec. 2011). The bill is available here--the relevant section is Section 636. It is likely that some of the provisions in this bill will be included in the tax cuts extension. AFP hopes that the IRA Rollover provision will be one of them.
AFP has heard from its sources on Capitol Hill that the IRA Rollover provision will likely be included in the tax cuts extension, but it is too early to predict for certain. We will keep you updated.
For more information about the status of the tax cuts agreement, please go here.