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IS PLR Requirred

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ByJoe

L1: IS PLR RequirredDo I need to get a PLR if I want to recalculate my SEPP each year using the Amortization method? I started my SEPP on 9/1/2004 using the balance in the IRA as of 12/31/2003. So if I did do the recalculation I think I would use the balance as of 12/31/2004 and used the reasonable interest rate in effect for 9/1/2005. Is this correct?
ThanksJoe2004-11-14 01:54, By: Joe, IP: [67.169.13.239]

L2: IS PLR RequirredHello Joe:
Generally, I would say no; unless some facet of your plan is venturing into new territory. Instead, I suggest:
1. Read Revenue Ruling 2002-62.
2. Read “Recalculation Is Back With A Vengance” in the What’s New area.
You may want to get an opinion letter from a CPA or tax attorney; however, this would be substantially less expensive than a PLR.
TheBadger
wjstecker@wispertel.net
2004-11-14 07:25, By: TheBadger, IP: [66.250.23.22]

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