It's not over until the IRS says it's over

07 | 27 | 2006 Posted By Jerry Kalish
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Recent rulings by the Internal Revenue Service make it easier for individuals who have missed the 60-day tax-free rollover deadline for individual retirement accounts and other tax-advantaged retirement plans to obtain a waiver and successfully complete the rollover.

Generally, there are two conditions under which the IRS may grant a waiver:
  • An automatic extension due to error by the financial institution, or
  • A request for a waiver based on taxpayer circumstances.
Click here for a set of IRS Q&As which provides the details.
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