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IRS Waives 60-Day Rollover Requirement Where Gambling Addict Withdrew IRA Funds Without Knowledge or Consent of IRA Owner
Wolters Kluwer Law & Business 
[Guidance Overview] Oct. 11, 2013 "The IRS has waived the 60-day IRA rollover rule for a spouse whose husband withdrew funds from her individual retirement account (IRA) without her knowledge or consent, according to an IRS letter ruling.... The husband told the IRA trustee that he was acting in his capacity as his wife's power of attorney and that he needed the funds for his wife's medical expenses. After discovering that her husband had a gambling problem, she revoked the power of attorney she had given to her husband." MORE >> |
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