60-day rollover deadline extended for hurricane victims
Victims of Hurricanes Katrina, Rita, and Wilma have until February 28, 2006 to complete their rollover of 529 or Coverdell ESA distributions, as part of hurricane-related tax relief announced by the IRS. Rollovers normally must be completed within 60 days in order to qualify as tax-free under federal tax law. This relief can be helpful to certain 529 and ESA participants who took distributions in the wake of the hurricanes and would see their 60-day rollover period expire prior to February 28, 2006. For more information, go to www.irs.gov.
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