By Mike Miles
May 23rd, 2012 | Uncategorized
Q. Are there any competent financial advisers in the Washington, D.C., metro area who are experts on rolling Thrift Savings Plan money into an Individual Retirement Account and withdrawing it under Internal Revenue Service Rule 72(t) before age 59½?
A. If all you want is 72(t) support, the best option is to engage a CPA to do your taxes and have them provide you with the support. That way, they’re responsible for defending the return if it is questioned. The 72(t) rules are strict, so you shouldn’t cut corners in this area. Any good adviser who isn’t preparing your tax return will disclaim liability for the calculations they provide and tell you that it’s ultimately the responsibility of your tax preparer.