IRS News Release- Extending deadline for recharacterizations...

[Guest Fishchick]

The IRS issued a news release dated 10/14/99 indicating that the deadline to recharacterize 1998 Roth IRA contributions or conversions to Traditional IRA's until the end of the year. The IRS also is sending letters to taxpayers who appear to be ineligible to convert in 1998.

What a great relief to taxpayers who were confused by all the rules for conversions/contributions to Roth IRA's. At least this time, the IRS is looking out for the taxpayers.