PLRs for 72t distributions

L1: PLRs for 72t distributionsWe have a client who was set up on a 72(t) distribution schedule in a variable annuity two years ago at age 48. Of course, now her account is down substantially, and we are concerned that she will run out of money by the time she’s 59 1/2. Since the IRS has not changed the “no change” rule yet, how does one go about getting a private letter ruling? Does anyone know the approximate cost to obtaining one? Thanks for any help or direction.2002-07-30 15:58, By: Ellen, IP: [127.0.0.1]
L2: PLRs for 72t distributionsCertainly “premature account exhaustion” (at least as I call it) appears to be THE SUBJECT this summer regarding 2(t) & SEPPs.To answer your question; fees to obtain a PLR come in two pieces; one, the filing fee to the IRS which is either $600 or $2470 depending on whether the taxpayer’s gross income is under / over $200,000, respectively; two, the fees paid to a preparer who knows what (s)he is doing when it comes to PLR requests. These can be variable depending on who does the work & the complexity of the work. My best guess is $2500 to $10,000.TheBadgerwjstecker@wispertel.net2002-07-30 18:13, By: TheBadger, IP: [127.0.0.1]