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“Substantial Equal Period Payments”?

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ByTim

L1: “Substantial Equal Period Payments”?My tax client began receiving an IRA distribution last year at age 56 based on a “Substantial Equal Period Payments”. The bank calculated her distribution on dividing her IRA value divided by 10 years. I know that is not one of the 3 methods per a 72t payout. Is that legit in the way it is being distributed? Your help is appreciated.2005-09-28 16:31, By: Tim, IP: [68.109.54.100]
L2: “Substantial Equal Period Payments”?Sorry. Short answer is No! A ten year payout at age 56 dowesn’t makeSubstantiallly Equal Period Payments under the rules of 72(t)2005-09-28 16:39, By: Gfw, IP: [172.16.1.72]

L2: “Substantial Equal Period Payments”?GET A GOOD ATTORNEY, AND SELL THE BANK’S STOCK SHORT !!!!
MAKE THEM PAY. THEN REPORT THEM TO THE STATE BANKING COMMISSION, THE STATE ATTORNEY GENERAL, AND THE STATE SEC, PLUS LET THE NEWSPAPERS KNOW ALSO TO WARN THE PUBLIC. BUT FIRST, TELL THE BANK THAT YOU WILL FOLLOW THRU UNLESS THEY ADD $ 100,000 TO THE SETTLEMENT !!!!! GO GET ‘EM.2005-09-28 17:45, By: dlztaxes, IP: [4.175.9.58]

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