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H&r block taxes online free Publication 503 - Introductory Material Table of Contents Future Developments Reminders IntroductionOrdering forms and publications. H&r block taxes online free Tax questions. H&r block taxes online free Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 503, such as legislation enacted after it was published, go to www. H&r block taxes online free irs. H&r block taxes online free gov/pub503. H&r block taxes online free Reminders Taxpayer identification number needed for each qualifying person. H&r block taxes online free  You must include on line 2 of Form 2441, Child and Dependent Care Expenses, the name and taxpayer identification number (generally the social security number) of each qualifying person. H&r block taxes online free See Taxpayer identification number under Qualifying Person Test, later. H&r block taxes online free You may have to pay employment taxes. H&r block taxes online free  If you pay someone to come to your home and care for your dependent or spouse, you may be a household employer who has to pay employment taxes. H&r block taxes online free Usually, you are not a household employer if the person who cares for your dependent or spouse does so at his or her home or place of business. H&r block taxes online free See Employment Taxes for Household Employers, later. H&r block taxes online free Photographs of missing children. H&r block taxes online free  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. H&r block taxes online free Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. H&r block taxes online free You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. H&r block taxes online free Introduction This publication explains the tests you must meet to claim the credit for child and dependent care expenses. H&r block taxes online free It explains how to figure and claim the credit. H&r block taxes online free You may be able to claim the credit if you pay someone to care for your dependent who is under age 13 or for your spouse or dependent who is not able to care for himself or herself. H&r block taxes online free The credit can be up to 35% of your expenses. H&r block taxes online free To qualify, you must pay these expenses so you can work or look for work. H&r block taxes online free This publication also discusses some of the employment tax rules for household employers. H&r block taxes online free Dependent care benefits. H&r block taxes online free   If you received any dependent care benefits from your employer during the year, you may be able to exclude from your income all or part of them. H&r block taxes online free You must complete Form 2441, Part III, before you can figure the amount of your credit. H&r block taxes online free See Dependent Care Benefits under How To Figure the Credit, later. H&r block taxes online free Comments and suggestions. H&r block taxes online free   We welcome your comments about this publication and your suggestions for future editions. H&r block taxes online free   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. H&r block taxes online free NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. H&r block taxes online free Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. H&r block taxes online free   You can send your comments from www. H&r block taxes online free irs. H&r block taxes online free gov/formspubs/. H&r block taxes online free Click on “More Information” and then on “Comment on Tax Forms and Publications. H&r block taxes online free ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. H&r block taxes online free Ordering forms and publications. H&r block taxes online free   Visit www. H&r block taxes online free irs. H&r block taxes online free gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. H&r block taxes online free Internal Revenue Service 1201 N. H&r block taxes online free Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. H&r block taxes online free   If you have a tax question, check the information available on IRS. H&r block taxes online free gov or call 1-800-829-1040. H&r block taxes online free We cannot answer tax questions sent to either of the above addresses. H&r block taxes online free Useful Items - You may want to see: Publication 501 Exemptions, Standard Deduction, and Filing Information 926 Household Employer's Tax Guide Form (and Instructions) 2441 Child and Dependent Care Expenses Schedule H (Form 1040) Household Employment Taxes W-10 Dependent Care Provider's Identification and Certification See How To Get Tax Help , near the end of this publication, for information about getting these publications and forms. H&r block taxes online free Prev  Up  Next   Home   More Online Publications
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Tax Relief for Victims of Tropical Storm Irene in Massachusetts

E-file to Remain Open through Oct. 31 for Irene Victims

Sept. 6, 2011

BOSTON — Victims of Tropical Storm Irene that began on Aug. 27, 2011, in Massachusetts may qualify for tax relief from the Internal Revenue Service.

The President has declared the following counties a federal disaster area: Berkshire and Franklin. Individuals who reside or have a business in these counties may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Aug. 27, and on or before Oct. 31, have been postponed to Oct. 31, 2011. This includes corporations and other businesses that previously obtained an extension until Sept. 15 to file their 2010 returns, and individuals and businesses that received a similar extension until Oct. 17. It also includes the estimated tax payment for the third quarter, normally due Sept. 15.

In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after Aug. 27, and on or before Sept. 12, as long as the deposits are made by Sept. 12, 2011.

If an affected taxpayer receives a penalty notice from the IRS, the taxpayer should call the telephone number on the notice to have the IRS abate any interest and any late filing or late payment penalties that would otherwise apply. Penalties or interest will be abated only for taxpayers who have an original or extended filing, payment or deposit due date, including an extended filing or payment due date, that falls within the postponement period.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 1-866-562-5227 to request this tax relief.

Covered Disaster Area

The counties listed above constitute a covered disaster area for purposes of Treas. Reg. § 301.7508A-1(d)(2) and are entitled to the relief detailed below.

Affected Taxpayers

Taxpayers considered to be affected taxpayers eligible for the postponement of time to file returns, pay taxes and perform other time-sensitive acts are those taxpayers listed in Treas. Reg. § 301.7508A-1(d)(1), and include individuals who live, and businesses whose principal place of business is located, in the covered disaster area. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. Reg. § 301.7508A-1(c) are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief.

Grant of Relief

Under section 7508A, the IRS gives affected taxpayers until Oct. 31 to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; and employment and certain excise tax returns), or to make tax payments, including estimated tax payments, that have either an original or extended due date occurring on or after Aug. 27 and on or before Oct. 31.

The IRS also gives affected taxpayers until Oct. 31 to perform other time-sensitive actions described in Treas. Reg. § 301.7508A-1(c)(1) and Rev. Proc. 2007-56, 2007-34 I.R.B. 388 (Aug. 20, 2007), that are due to be performed on or after Aug. 27 and on or before Oct. 31.

This relief also includes the filing of Form 5500 series returns, in the manner described in section 8 of Rev. Proc. 2007-56. The relief described in section 17 of Rev. Proc. 2007-56, pertaining to like-kind exchanges of property, also applies to certain taxpayers who are not otherwise affected taxpayers and may include acts required to be performed before or after the period above.

The postponement of time to file and pay does not apply to information returns in the W-2, 1098, 1099 series, or to Forms 1042-S or 8027. Penalties for failure to timely file information returns can be waived under existing procedures for reasonable cause. Likewise, the postponement does not apply to employment and excise tax deposits. The IRS, however, will abate penalties for failure to make timely employment and excise tax deposits due on or after Aug. 27 and on or before Sept. 12 provided the taxpayer makes these deposits by Sept. 12.

Casualty Losses

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either this year or last year. Claiming the loss on an original or amended return for last year will get the taxpayer an earlier refund, but waiting to claim the loss on this year’s return could result in a greater tax saving, depending on other income factors.

Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684 and its instructions.

Affected taxpayers claiming the disaster loss on last year’s return should put the Disaster Designation “Massachusetts/Tropical Storm Irene” at the top of the form so that the IRS can expedite the processing of the refund.

Other Relief

The IRS will waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation in red ink at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.

Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case.

Taxpayers may download forms and publications from this website, irs.gov, or order them by calling 1-800-TAX-FORM (1-800-829-3676). The IRS toll-free number for general tax questions is 1-800-829-1040.

Related Information

 

 

Page Last Reviewed or Updated: 20-Feb-2014

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H&r block taxes online free 8. H&r block taxes online free   Distributions and Rollovers Table of Contents DistributionsMinimum Required Distributions No Special 10-Year Tax Option Transfer of Interest in 403(b) ContractAfter-tax contributions. H&r block taxes online free Permissive service credit. H&r block taxes online free Tax-Free RolloversHardship exception to rollover rules. H&r block taxes online free Eligible retirement plans. H&r block taxes online free Nonqualifying distributions. H&r block taxes online free Second rollover. H&r block taxes online free Gift Tax Distributions Permissible distributions. H&r block taxes online free   Generally, a distribution cannot be made from a 403(b) account until the employee: Reaches age 59½, Has a severance from employment, Dies, Becomes disabled, In the case of elective deferrals, encounters financial hardship, or Has a qualified reservist distribution. H&r block taxes online free In most cases, the payments you receive or that are made available to you under your 403(b) account are taxable in full as ordinary income. H&r block taxes online free In general, the same tax rules apply to distributions from 403(b) plans that apply to distributions from other retirement plans. H&r block taxes online free These rules are explained in Publication 575. H&r block taxes online free Publication 575 also discusses the additional tax on early distributions from retirement plans. H&r block taxes online free Retired public safety officers. H&r block taxes online free   If you are an eligible retired public safety officer, distributions of up to $3,000, made directly from your 403(b) plan to pay accident, health, or long-term care insurance, are not included in your taxable income. H&r block taxes online free The premiums can be for you, your spouse, or your dependents. H&r block taxes online free   A public safety officer is a law enforcement officer, fire fighter, chaplain, or member of a rescue squad or ambulance crew. H&r block taxes online free   For additional information, see Publication 575. H&r block taxes online free Distribution for active reservist. H&r block taxes online free   The 10% penalty for early withdrawals will not apply to a qualified reservist distribution attributable to elective deferrals from a 403(b) plan. H&r block taxes online free A qualified reservist distribution is a distribution that is made: To an individual who is a reservist or national guardsman and who was ordered or called to active duty for a period in excess of 179 days or for an indefinite period; and During the period beginning on the date of the order or call to duty and ending at the close of the active duty period. H&r block taxes online free Minimum Required Distributions You must receive all, or at least a certain minimum, of your interest accruing after 1986 in the 403(b) plan by April 1 of the calendar year following the later of the calendar year in which you become age 70½, or the calendar year in which you retire. H&r block taxes online free Check with your employer, plan administrator, or provider to find out whether this rule also applies to pre-1987 accruals. H&r block taxes online free If not, a minimum amount of these accruals must begin to be distributed by the later of the end of the calendar year in which you reach age 75 or April 1 of the calendar year following retirement. H&r block taxes online free For each year thereafter, the minimum distribution must be made by the last day of the year. H&r block taxes online free If you do not receive the required minimum distribution, you are subject to a nondeductible 50% excise tax on the difference between the required minimum distribution and the amount actually distributed. H&r block taxes online free No Special 10-Year Tax Option A distribution from a 403(b) plan does not qualify as a lump-sum distribution. H&r block taxes online free This means you cannot use the special 10-year tax option to calculate the taxable portion of a 403(b) distribution. H&r block taxes online free For more information, see Publication 575. H&r block taxes online free Transfer of Interest in 403(b) Contract Contract exchanges. H&r block taxes online free   If you transfer all or part of your interest from a 403(b) contract to another 403(b) contract (held in the same plan), the transfer is tax free, and is referred to as a contract exchange. H&r block taxes online free This was previously known as a 90-24 transfer. H&r block taxes online free A contract exchange is similar to a 90-24 transfer with one major difference. H&r block taxes online free Previously, you were able to accomplish the transfer without your employer’s involvement. H&r block taxes online free After September 24, 2007, all such transfers are accomplished through a contract exchange requiring your employer’s involvement. H&r block taxes online free In addition, the plan must provide for the exchange and the transferred interest must be subject to the same or stricter distribution restrictions. H&r block taxes online free Finally, your accumulated benefit after the exchange must be equal to what it was before the exchange. H&r block taxes online free   Transfers that do not satisfy this rule are plan distributions and are generally taxable as ordinary income. H&r block taxes online free Plan-to-plan transfers. H&r block taxes online free   You may also transfer part or all of your interest from a 403(b) plan to another 403(b) plan if you are an employee of (or were formerly employed by) the employer of the plan to which you would like to transfer. H&r block taxes online free Both the initial plan and the receiving plan must provide for transfers. H&r block taxes online free Your accumulated benefit after the transfer must be at least equal to what it was before the transfer. H&r block taxes online free The new plan’s restrictions on distributions must be the same or stricter than those of the original plan. H&r block taxes online free Tax-free transfers for certain cash distributions. H&r block taxes online free   A tax-free transfer may also apply to a cash distribution of your 403(b) account from an insurance company that is subject to a rehabilitation, conservatorship, insolvency, or similar state proceeding. H&r block taxes online free To receive tax-free treatment, you must do all of the following: Withdraw all the cash to which you are entitled in full settlement of your contract rights or, if less, the maximum permitted by the state. H&r block taxes online free Reinvest the cash distribution in a single policy or contract issued by another insurance company or in a single custodial account subject to the same or stricter distribution restrictions as the original contract not later than 60 days after you receive the cash distribution. H&r block taxes online free Assign all future distribution rights to the new contract or account for investment in that contract or account if you received an amount that is less than what you are entitled to because of state restrictions. H&r block taxes online free   In addition to the preceding requirements, you must provide the new insurer with a written statement containing all of the following information: The gross amount of cash distributed under the old contract. H&r block taxes online free The amount of cash reinvested in the new contract. H&r block taxes online free Your investment in the old contract on the date you receive your first cash distribution. H&r block taxes online free   Also, you must attach the following items to your timely filed income tax return in the year you receive the first distribution of cash. H&r block taxes online free A copy of the statement you gave the new insurer. H&r block taxes online free A statement that includes: The words ELECTION UNDER REV. H&r block taxes online free PROC. H&r block taxes online free 92-44, The name of the company that issued the new contract, and The new policy number. H&r block taxes online free Direct trustee-to-trustee transfer. H&r block taxes online free   If you make a direct trustee-to-trustee transfer, from your governmental 403(b) account to a defined benefit governmental plan, it may not be includible in gross income. H&r block taxes online free   The transfer amount is not includible in gross income if it is made to: Purchase permissive service credits, or Repay contributions and earnings that were previously refunded under a forfeiture of service credit under the plan, or under another plan maintained by a state or local government employer within the same state. H&r block taxes online free After-tax contributions. H&r block taxes online free   For distributions beginning after December 31, 2006, after-tax contributions can be rolled over between a 403(b) plan and a defined benefit plan, IRA, or a defined contribution plan. H&r block taxes online free If the rollover is to or from a 403(b) plan, it must occur through a direct trustee-to-trustee transfer. H&r block taxes online free Permissive service credit. H&r block taxes online free   A permissive service credit is credit for a period of service recognized by a defined benefit governmental plan only if you voluntarily contribute to the plan an amount that does not exceed the amount necessary to fund the benefit attributable to the period of service and the amount contributed is in addition to the regular employee contribution, if any, under the plan. H&r block taxes online free   A permissive service credit may also include service credit for up to 5 years where there is no performance of service, or service credited to provide an increased benefit for service credit which a participant is receiving under the plan. H&r block taxes online free   Check with your plan administrator as to the type and extent of service that may be purchased by this transfer. H&r block taxes online free Tax-Free Rollovers You can generally roll over tax free all or any part of a distribution from a 403(b) plan to a traditional IRA or a non-Roth eligible retirement plan, except for any nonqualifying distributions, described later. H&r block taxes online free You may also roll over any part of a distribution from a 403(b) plan by converting it through a direct rollover, described below, to a Roth IRA. H&r block taxes online free Conversion amounts are generally includible in your taxable income in the year of the distribution from your 403(b) account. H&r block taxes online free See Publication 590 for more information about conversion into a Roth IRA. H&r block taxes online free Note. H&r block taxes online free A participant is required to roll over distribution amounts received within 60 days in order for the amount to be treated as nontaxable. H&r block taxes online free Distribution amounts that are rolled over within the 60 days are not subject to the 10% early distribution penalty. H&r block taxes online free Rollovers to and from 403(b) plans. H&r block taxes online free   You can generally roll over tax free all or any part of a distribution from an eligible retirement plan to a 403(b) plan. H&r block taxes online free Beginning January 1, 2008, distributions from tax-qualified retirement plans and tax-sheltered annuities can be converted by making a direct rollover into a Roth IRA subject to the restrictions that currently apply to rollovers from a traditional IRA into a Roth IRA. H&r block taxes online free Converted amounts are generally includible in your taxable income in the year of the distribution from your 403(b) account. H&r block taxes online free See Publication 590 for more information on conversion into a Roth IRA. H&r block taxes online free   If a distribution includes both pre-tax contributions and after-tax contributions, the portion of the distribution that is rolled over is treated as consisting first of pre-tax amounts (contributions and earnings that would be includible in income if no rollover occurred). H&r block taxes online free This means that if you roll over an amount that is at least as much as the pre-tax portion of the distribution, you do not have to include any of the distribution in income. H&r block taxes online free   For more information on rollovers and eligible retirement plans, see Publication 575. H&r block taxes online free If you roll over money or other property from a 403(b) plan to an eligible retirement plan, see Publication 575 for information about possible effects on later distributions from the eligible retirement plan. H&r block taxes online free Hardship exception to rollover rules. H&r block taxes online free   The IRS may waive the 60-day rollover period if the failure to waive such requirement would be against equity or good conscience, including cases of casualty, disaster, or other events beyond the reasonable control of an individual. H&r block taxes online free   To obtain a hardship exception, you must apply to the IRS for a waiver of the 60-day rollover requirement. H&r block taxes online free You apply for the waiver by following the general instructions used in requesting a letter ruling. H&r block taxes online free These instructions are stated in Revenue Procedure 2013-4, 2013-1 I. H&r block taxes online free R. H&r block taxes online free B. H&r block taxes online free 126 available at www. H&r block taxes online free irs. H&r block taxes online free gov/irb/2013-01_IRB/ar09. H&r block taxes online free html, or see the latest annual update. H&r block taxes online free You must also pay a user fee with the application. H&r block taxes online free The user fee for a rollover that is less than $50,000 is $500. H&r block taxes online free For rollovers that are $50,000 or more, see Revenue Procedure 2013-8, 2013-1 I. H&r block taxes online free R. H&r block taxes online free B. H&r block taxes online free 237 available at www. H&r block taxes online free irs. H&r block taxes online free gov/irb/2013-01_IRB/ar13. H&r block taxes online free html, or see the latest annual update. H&r block taxes online free   In determining whether to grant a waiver, the IRS will consider all relevant facts and circumstances, including: Whether errors were made by the financial institution; Whether you were unable to complete the rollover due to death, disability, hospitalization, incarceration, restrictions imposed by a foreign country, or postal error; Whether you used the amount distributed (for example, in the case of payment by check, whether you cashed the check); and How much time has passed since the date of distribution. H&r block taxes online free   For additional information on rollovers, see Publication 590. H&r block taxes online free Eligible retirement plans. H&r block taxes online free   The following are considered eligible retirement plans. H&r block taxes online free Individual retirement arrangements. H&r block taxes online free Roth IRA. H&r block taxes online free 403(b) plans. H&r block taxes online free Government eligible 457 plans. H&r block taxes online free Qualified retirement plans. H&r block taxes online free  If the distribution is from a designated Roth account, then the only eligible retirement plan is another designated Roth account or a Roth IRA. H&r block taxes online free Nonqualifying distributions. H&r block taxes online free   You cannot roll over tax free: Minimum required distributions (generally required to begin at age 70½), Substantially equal payments over your life or life expectancy, Substantially equal payments over the joint lives or life expectancies of your beneficiary and you, Substantially equal payments for a period of 10 years or more, Hardship distributions, or Corrective distributions of excess contributions or excess deferrals, and any income allocable to the excess, or excess annual additions and any allocable gains. H&r block taxes online free Rollover of nontaxable amounts. H&r block taxes online free    You may be able to roll over the nontaxable part of a distribution (such as your after-tax contributions) made to another eligible retirement plan, traditional IRA, or Roth IRA. H&r block taxes online free The transfer must be made either through a direct rollover to an eligible plan that separately accounts for the taxable and nontaxable parts of the rollover or through a rollover to a traditional IRA or Roth IRA. H&r block taxes online free   If you roll over only part of a distribution that includes both taxable and nontaxable amounts, the amount you roll over is treated as coming first from the taxable part of the distribution. H&r block taxes online free Direct rollovers of 403(b) plan distributions. H&r block taxes online free   You have the option of having your 403(b) plan make the rollover directly to a traditional IRA, Roth IRA, or new plan. H&r block taxes online free Before you receive a distribution, your plan will give you information on this. H&r block taxes online free It is generally to your advantage to choose this option because your plan will not withhold tax on the distribution if you choose it. H&r block taxes online free Distribution received by you. H&r block taxes online free   If you receive a distribution that qualifies to be rolled over, you can roll over all or any part of the distribution. H&r block taxes online free Generally, you will receive only 80% of the distribution because 20% must be withheld. H&r block taxes online free If you roll over only the 80% you receive, you must pay tax on the 20% you did not roll over. H&r block taxes online free You can replace the 20% that was withheld with other money within the 60-day period to make a 100% rollover. H&r block taxes online free Voluntary deductible contributions. H&r block taxes online free   For tax years 1982 through 1986, employees could make deductible contributions to a 403(b) plan under the individual retirement arrangement (IRA) rules instead of deducting contributions to a traditional IRA. H&r block taxes online free   If you made voluntary deductible contributions to a 403(b) plan under these traditional IRA rules, the distribution of all or part of the accumulated deductible contributions may be rolled over if it otherwise qualifies as a distribution you can roll over. H&r block taxes online free Accumulated deductible contributions are the deductible contributions: Plus Income allocable to the contributions, Gain allocable to the contributions, and Minus Expenses and losses allocable to the contributions, and Distributions from the contributions, income, or gain. H&r block taxes online free Excess employer contributions. H&r block taxes online free   The portion of a distribution from a 403(b) plan transferred to a traditional IRA that was previously included in income as excess employer contributions (discussed earlier) is not an eligible rollover distribution. H&r block taxes online free   Its transfer does not affect the rollover treatment of the eligible portion of the transferred amounts. H&r block taxes online free However, the ineligible portion is subject to the traditional IRA contribution limits and may create an excess IRA contribution subject to a 6% excise tax (see chapter 1 of Publication 590). H&r block taxes online free Qualified domestic relations order. H&r block taxes online free   You may be able to roll over tax free all or any part of an eligible rollover distribution from a 403(b) plan that you receive under a qualified domestic relations order (QDRO). H&r block taxes online free If you receive the interest in the 403(b) plan as an employee's spouse or former spouse under a QDRO, all of the rollover rules apply to you as if you were the employee. H&r block taxes online free You can roll over your interest in the plan to a traditional IRA or another 403(b) plan. H&r block taxes online free For more information on the treatment of an interest received under a QDRO, see Publication 575. H&r block taxes online free Spouses of deceased employees. H&r block taxes online free   If you are the spouse of a deceased employee, you can roll over the qualifying distribution attributable to the employee. H&r block taxes online free You can make the rollover to any eligible retirement plan. H&r block taxes online free   After you roll money and other property over from a 403(b) plan to an eligible retirement plan, and you take a distribution from that plan, you will not be eligible to receive the capital gain treatment or the special averaging treatment for the distribution. H&r block taxes online free Second rollover. H&r block taxes online free   If you roll over a qualifying distribution to a traditional IRA, you can, if certain conditions are satisfied, later roll the distribution into another 403(b) plan. H&r block taxes online free For more information, see IRA as a holding account (conduit IRA) for rollovers to other eligible plans in chapter 1 of Publication 590. H&r block taxes online free Nonspouse beneficiary. H&r block taxes online free   A nonspouse beneficiary may make a direct rollover of a distribution from a 403(b) plan of a deceased participant if the rollover is a direct transfer to an inherited IRA established to receive the distribution. H&r block taxes online free If the rollover is a direct trustee-to-trustee transfer to an IRA established to receive the distribution: The transfer will be treated as an eligible rollover distribution. H&r block taxes online free The IRA will be considered an inherited account. H&r block taxes online free The required minimum distribution rules that apply in instances where the participant dies before the entire interest is distributed will apply to the transferred IRA. H&r block taxes online free    For more information on IRAs, see Publication 590. H&r block taxes online free Frozen deposits. H&r block taxes online free   The 60-day period usually allowed for completing a rollover is extended for any time that the amount distributed is a frozen deposit in a financial institution. H&r block taxes online free The 60-day period cannot end earlier than 10 days after the deposit ceases to be a frozen deposit. H&r block taxes online free   A frozen deposit is any deposit that on any day during the 60-day period cannot be withdrawn because: The financial institution is bankrupt or insolvent, or The state where the institution is located has placed limits on withdrawals because one or more banks in the state are (or are about to be) bankrupt or insolvent. H&r block taxes online free Gift Tax If, by choosing or not choosing an election, or option, you provide an annuity for your beneficiary at or after your death, you may have made a taxable gift equal to the value of the annuity. H&r block taxes online free Joint and survivor annuity. H&r block taxes online free   If the gift is an interest in a joint and survivor annuity where only you and your spouse have the right to receive payments, the gift will generally be treated as qualifying for the unlimited marital deduction. H&r block taxes online free More information. H&r block taxes online free   For information on the gift tax, see Publication 559, Survivors, Executors, and Administrators. H&r block taxes online free Prev  Up  Next   Home   More Online Publications