[WSBAPT] IRS Waiver of 60-day rollover period

[John J. Sullivan]

Yes. Part of my client's defense was the balance in the checking account never went below the amount distributed from the IRA. We had to produce monthly statements. 

John Sullivan

Sent from my iPhone

> On Jan 25, 2016, at 2:15 PM, Paul Grant <paulnnepa at gmail.com> wrote:
> 
> Most of the time leniency is given if the Client can demonstrate they were receiving wrong advice, such as in John's instance.  In my research of the same issue (I did it a couple of years ago now and have not revisited or updated the research) the IRS takes a rather hard-line approach to the Client making the mistake and putting the funds into their personal name instead of properly rolling it over.
> 
> If you find out differently, I would love to know what you find.
> 
> 
> Paul H. Grant - JD, LL.M
> 
> Planning with Purpose, Inc
> Lynnwood, WA 98036
> 425-939-9948
> www.planningwithpurposeinc.com
> 
> Estate Planning. Business Planning. Wealth Succession.
> 
>> On Mon, Jan 25, 2016 at 9:38 AM, Ashley Raymond <ashleyraymondlaw at gmail.com> wrote:
>> Has anyone had luck getting the IRS to grant a waiver of the 60-day IRA rollover period? I have a PC who really doesn't have an excuse, except for stupidity (she thought she was putting it into an IRA, when in fact,she just put it into a CD.) After reviewing the procedure, I'm thinking she wouldn't qualify but wanted to see if anyone has had experience with one of these.
>> 
>> 
>> Ashley Raymond, J.D., LL.M.
>> Ashley Raymond, PLLC
>> 651 Strander Blvd, Suite 215
>> Tukwila, WA 98188
>> Ph: 425-496-7495 | Fax: 425-406-6331
>> ashley at ashleyraymondlaw.com
>> 
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>> 110 110th Ave NE, Suite 100
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