User fee for IRS Private Letter Ruling???

[Kathy]

If an IRA investor wants to request a PLR from the IRS to get their blessing on substantially equal, periodic payments over their life expectancy from one of their many IRA accounts to avoid the 10% premature distribution additional tax, what is the user fee? Where do I find this information for 1999?

[Gary Lesser]

#3,600+ (see Rev Proc 98-1)plus whatever the submitter charges for preparing the PLR request. However, there is a sufficient number of PLRs out there that a prudent practitioner would not need to "ask again" the same question. Personally, I (GSL Galactic Consulting) have rendered several distrubution letters and let my E&O policy take the risk. The client is charged a flat fee (much less than the $2,100) and receives several possible calculations (methods) and a letter for their tax files. The method is chosen after a discussion with the client or his or her financial advisor. The amount is initially approximated and then finalized on the date that the distribution request is submitted to the financial institutio making theperiodic payments.

[This message has been edited by Gary Steven Lesser (edited 01-02-99).]

[This message has been edited by Gary Steven Lesser (edited 01-02-99).]