Surgent's Top 20 Questions Advisors Ask About the SECURE Acts and Other IRA Rules
2.00 Credits
Member Price $99
Non-Member Price $119
Overview
Advisors often ask clarifying questions as they increasingly gain an understanding of new and existing tax laws that govern IRAs. Some provisions see more questions than others due to their complexity, popularity, and level of impact on tax benefits. This course focuses on the top 20 of these questions and on SECURE Act 1.0, SECURE Act 2.0, and other hot topics. This course aims to help the advisor provide clients with the correct responses based on their IRA profiles.
Highlights
- 529 to Roth: who, what, when, and how
- SECURE Act 1.0 and the 10-year rule
- Roth IRA beneficiary options
- Where the stretch IRA really ends
- The new limitations for spouse IRA beneficiaries
- The new spouse options for spouse beneficiaries
- New RMD rules for Roth 401(k)s
- Overriding the 10-year rule for an eligible designated beneficiary
- How the age of death affects beneficiary options
- The new early distribution penalty exceptions
- Rollovers vs. transfers for spouse beneficiaries
- Qualified charitable distributions (QCDs) for owners and beneficiaries
- The “at least as rapidly” (ALAR) rule
- New reduced rate for excess accumulation penalty on RMD failures
- How to avoid unlimited accrual of the 6% excise tax
- How to avoid unlimited accrual of the 25% excise tax
- Clarifying the definition of disability for an exception to the 10% additional tax
- The new starting ages for RMDs
- Designated vs. eligible designated beneficiaries and their options
- Catch-up contributions for ages 50 and over
- Catch-up contributions for ages 60 to 63
- When the 60-day deadline is missed
- When the one-per-year rollover limit is about to be broken
- Retaining qualifications for exceptions to the 10% additional tax
Prerequisites
None
Designed For
All practitioners advising clients on these complex issues
Objectives
- Understand the new distribution options for beneficiaries, as clarified by the proposed RMD regulations for SECURE Act 1.0
- Communicate to clients new opportunities for participants and beneficiaries to avoid excise tax and costly penalties
- Talk to clients about implementing unique tax-saving opportunities for spouses and other eligible designated beneficiaries
- Be well-versed in other recent developments that affect IRAs and employer plans
Preparation
None
Leader(s):
Leader Bios
Deborah Phillips, Discussion Leader, Surgent McCoy CPE, LLC
Deborah A. Phillips, MST, CPA, is a Senior Manager in the Flow Through Issue Practice Group (IPG) in Pre-filing Technical Guidance (PFTG) in the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS). This IPG specializes in S corporation and partnership tax issues in LB&I.
Ms. Phillips began her career with the IRS more than 31 years ago and has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the Operations Executive Assistant to the Deputy Commission International, the Technical Executive Assistant to the Director of PFTG, a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team Manager in the Heavy Manufacturing Industry and the IRC Section 263A Technical Advisor. She taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for over 17 years as well as a respected instructor within the IRS.
Ms. Phillips earned her master’s degree in taxation from Widener University.
Non-Member Price $119
Member Price $99