Royal screwup with a 401k and the IRS

The bottom line? Don't believe everything an IRS publication has said for the last 20 years.


http://www.marketwatch.com/story/ira-rollover-ruling-stuns-advisers-and-savers-2014-04-04?link=MW_popular

 

This doesn't have much to do with 401k and I don't believe the word 401k was even in the story.

This is a guy who was trying to do a tax dodge by holding three different IRAs and transferring his distribution required minimum distribution from one IRA (which means he's really old and really rich) EDIT it wasn't necessarily a required minimum distribution, I read that wrong, but the rest stands back into two different IRAs., a least one of which I'm guessing he opened for the sole purpose of dodging the taxes on the required minimum distribution.

This is a 1 percenter problem all the way.