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Relief – IRS Releases Revenue Ruling 2002-62

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ByGfw

L1: Relief – IRS Releases Revenue Ruling 2002-62Relief on the way – IRS Releases Revenue Ruling 2002-62 providing relief for those withdrawing from retirement plans under section 72(t)- taking a series of substantially equal periodic payments. A Revenue Ruling is authoritative and applies to all taxpayers. You won’t have to apply for your own Private Letter Ruling for relief. 10/03/2002, 02:07pmCT – Here it is RR 2002-62 2002-10-03 13:29, By: Gfw, IP: [127.0.0.1]
L2: Relief – IRS Releases Revenue Ruling 2002-62I think this is what we have been waiting for! I am cautiously excited about the ruling, if I am understanding it correctly. I would like to reduce the amount of monthly payments I am receiving via 72t. I can easily live on less monthly income and can work if need be, and thus preserve what is left of my battered retirement account. Am I correct that I may reduce my monthly distribution payments? Would this be done through my financial advisor? How long would it take for the new distribution amount to go into effect? Thanks!2002-10-05 20:25, By: Little L, IP: [127.0.0.1]

L2: Relief – IRS Releases Revenue Ruling 2002-62>>Am I correct that I may reduce my monthly distribution payments? The answer is yes, you can reduce your SEPP distributions. Start by checking our calculators, they are up to date. >>Would this be done through my financial advisor?Start by contacting your financial advisor or the Trustee/Custodian making the current distributions. 2002-10-06 06:00, By: Gfw, IP: [127.0.0.1]

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