Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
This course covers the essentials of IRAs. We’ll go well beyond the basics to cover crucial topics: when to convert traditional IRAs to Roth IRAs, how to minimize tax on conversion, and when clients should recharacterize IRA contributions (and how to recharacterize). We’ll also discuss how to get a waiver for clients who fail to take a required minimum distribution.
Publication Date: June 2025
Designed For
Tax professionals who want to sharpen their expertise in the greatest growth field in taxation.
Topics Covered
- Determine clients who are well suited for conversion from traditional to Roth IRAs
- When should clients recharacterize IRA contributions?
- What special traps are present in the IRA area?
- How to receive a waiver for clients who failed to take the proper required minimum distributions (updated for the SECURE Act 2.0)
- Requirement minimum distributions from inherited IRAs (updated for SECURE Act 2.0 and also 2024 IRS guidance)
Learning Objectives
- Identify clients who should convert traditional IRAs to Roth IRAs
- Identify clients who should recharacterize IRA contributions and how to recharacterize
- Determine who are the ideal beneficiaries of a particular IRA
- Explain how to apply the rules for required minimum distributions for both IRA owners and beneficiaries
- Identify the annual IRA contribution limit for individuals 50 or older
- Identify the IRS form used to report nondeductible IRA contributions
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Greg White
Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.