Michael J. Jones, CPA
Publications
The Pension Answer Book Special Supplement on Final Regulations Governing Minimum Required Distributions, Panel Publishers, June 2002
"Drafting Estate Plans in 2010," Steve Leimberg's Estate Planning Email Newsletter - Archive Message #1670, available online at: leimbergservices.com
Abstract: How bequests to QTIP and exemption trusts can be restructured temporarily to fit the limited basis step-up election for property of decedents dying duirng 2010.
"Chase Away IRA Spousal Rollover Demons" Trusts & Estates, April 2010, p. 44
Abstract: A regulation on required minimum distributions isn't a barrier to spousal IRA rollovers when a trust is named as beneficiary of an IRA.
"Roth IRA Conversions, Nontraditionally", Trusts & Estates, March 2010, p. 36
Abstract: Roth IRA conversions of retirement accounts holding nontraditional investments introduce twists. Here's what you need to know to make the journey safe.
"FLASH: Notice 2010-19 & Guidance on IRC Sec. 2511(c)," Steve Leimberg's Estate Planning Email Newsletter - Archive Message #1595, available online at: leimbergservices.com
Abstract: Some advisors have suggested that gifts to wholly-owned grantor trusts during 2010 will not be completed gifts for gift tax purposes. In IRS Notice 2010-19, the Service announced that gifts to grantor trusts during 2010 may be completed gifts using the same criteria as was in effect on December 31, 2009. Stated differently, 2010 did not usher in new gift tax opportunities for gifts made to grantor trusts during 2010.
"The North Winds Howled", Trusts & Estates, January 2010, p. 18
Abstract: 2009 Recent developments in retirement plans and estate planning.
"IRS Notice 2009-75: NUA Benefits Lost in Roth IRA Rollovers", Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #501, available online at: leimbergservices.com
Abstract: The IRS has made it clear that all special income tax benefits for employer stock in that employer's retirement plan are lost when rolled over to a Roth IRA.
"Spouse May Rollover Community Property IRA Left to Trust", Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #494, available online at: leimbergservices.com
Abstract: The IRS allows a spousal rollover even though the IRA was left to a trust, and the IRA speaks out on community property.
"FLASH - Private Letter Ruling 200909074 - A Tempest in a Teapot", Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #500, available online at: leimbergservices.com
Abstract: Private Letter Ruling 200909074, allowing a Roth IRA conversion can't be read to mean special treatment for after-tax contributions. The ruling does not say whether an employee can roll over only the after-tax contributions to a Roth IRA without paying income taxes on that after-tax money while, at the same time, avoiding a rollover of the taxable interest.
"Nice Booby Prize," Trusts & Estates, June 2009, p. 17
Abstract: When, if ever, might trusts that are includible in the estate of a decedent avoid income in respect of decedent (IRD) and receive fresh basis? Your knee-jerk answer may be "IRD is still IRD when held in trust." But look beyond the surface, and explore how IRD may not be IRD when held in trust.
"Benz - IRA Distributions Escape Penalty Tax & Were Not Modification," Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #484, available online at: leimbergservices.com
Abstract: The Tax Court, in Gregory T. Benz, et ux. v. Commissioner, 132 T.C. No. 15, Docket No. 15867-07 (May 11, 2009), determined that an IRA distribution that escapes the 10 percent tax on pre-age 59 ½ distributions because it is used for qualified higher education expenses does not constitute a modification to a series of substantially equal periodic payments.
"Can a Roth IRA loss be netted against Traditional IRA income?" Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #483, available online at: leimbergservices.com
Abstract: Income tax laws are unclear about whether a deductible loss arising from a complete distribution of all Roth IRAs of a taxpayer may be deducted against income arising from taxable distributions of a traditional IRA. There may be a basis for doing so, and it seems like it's fair.
"Alternate Valuation Date and IRAs," Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #1397, available online at: leimbergservices.com
Abstract: In this down economy, it's good there's an estate tax election that may be made to value assets six months after death. When it comes to IRAs, applying the alternate valuation rules can be a challenge.
"Left Reeling," Trusts & Estates, January 2009, p. 46
Abstract: A roundup of 2008 developments in estate planning for retirement benefits.
"The Feds Must Stop Hounding the Elderly," Trusts & Estates, December 2008, p. 62
Abstract: It's time to change who's responsible for making required minimum distributions. Let's stop expecting the elderly, who too often suffer from ever-diminishing capacity, to initiate required minimum distributions from IRAs, then, if they forget, hit them with 50 percent penalties—plus interest!
"2008 Year End Estate Planning - Trying Times, and Tax Uncertainty," Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #1381, available online at: leimbergservices.com
"Rescue Plans for IRAs Left to Marital Trusts," Coauthored with Steven B. Gorin, Trusts & Estates, November 2008, p. 52
Abstract: The Uniform Principal and Income Act has been amended to accommodate an IRS safe harbor for the estate tax marital deduction. States should adopt this change immediately to protect against inadvertent loss of the marital deduction, and the change should be made to apply to all of UPIA Section 409.
"Disappearing Act: How PPA Taxes NUA in a Roth IRA Conversion," Journal of Pension Benefits, Autumn 2008, p. 37
"When the Stretch Snaps," Coauthored with Natalie Choate, Trusts & Estates, September 2008, p. 48
Abstract: Inadvertent IRA distributions deprive some of the ability to stretch out distributions over a lifetime, and sometimes there's no fix. A model for quantifying damages is proposed.
Correction: The article incorrectly stated two amounts on page 50, in the first of the article's two financial illustrations. The corrected illustration should read: "Jack cashes out his $1 million IRA immediately, while Jill waits one year to do so. At the end of the year, Jack's $600,000 after-tax cash out should have grown at 6.7 percent (after-tax) to $640,200. And the present value of Jill's $660,000 cashout was $618,556." Note that the article correctly stated that Jill's present value beat Jack's by $18,556.
"IRAs and Wash Sale Rules" Ed Slott's IRA Advisor, June 2008, p. 5
Abstract: For years, some advisors had suggested using your IRA or Roth IRA to avoid wash sale rules (income tax loss on sale of security disallowed when substantially identical security acquired 30 days before or after loss incurred). But a recent IRS Revenue Ruling says that won't work. The IRS might be wrong about that.
"A Costly and Unnecessary Detour," Trusts & Estates, May 2008, p. 25
Abstract: Taxpayers are forced to pay for private letter rulings so the Service can tell them individually what it should declare to all: surviving spouses can roll over a decedent's retirement plans – even when death benefits are left to them through a trust or estate.
"Tax Preparation Alert," Trusts & Estates, March 2008, p. 59
Abstract: The IRS says that traditional IRAs and Roth IRAs must be scrutinized for wash sales. But the Service's position on this issue should be scrubbed.
"PLR 200809043 – Roll-overs No Push-Over But..." Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #453, available online at: leimbergservices.com
Abstract: The IRS is authorized by law to grant Hardship waivers of the 60-day deadline for rolling over retirement plan distributions. Some have said the IRS is inappropriately trying to tighten the criteria for granting waivers. Is the IRS headed for an abuse of discretion suit?
"Mike Jones on Roth IRA Rollovers by Non Spouse Beneficiaries," Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #447, available online at: leimbergservices.com
Abstract: Notice 2008-30, Q&A-7 fairly stunned practitioners (including me) with its revelation that a Roth IRA conversion could be accomplished by a beneficiary of an non-IRA retirement plan by using the inherited IRA rules ushered in by the Pension Protection Act of 2006 (PPA).
"Tax Preparation Alert," Trusts & Estates, March 2008, p. 59
Abstract: The IRS says that traditional IRAs and Roth IRAs must be scrutinized for wash sales. But the Service's position on this issue should be scrubbed.
"Count Our Blessings," Trusts & Estates, January 2008, p. 52
Abstract: Annual update on estate planning for retirement benefits. 2007 was a very good year.
"Mike Jones' Client Letter - You Have Inherited My IRA," Steve Leimberg's Employee Benefits and Retirement Planning Email Newsletter - Archive Message #429, available online at: leimbergservices.com
Abstract: A parent explains the ABCs of inherited IRAs to children.
"There's an IRA Trap in Community Property States," Trusts & Estates, November, 2007, p. 32
Abstract: If a couple EVER lived in a CP state, there could be problems. A deceased spouse's bequest of his or her CP interest in the IRA of the surviving spouse could create a tax disaster.
Errata: The article contains a map that points to Colorado and incorrectly identifies it as as New Mexico.
"Opt Out of QTIP?" Trusts & Estates, October, 2007, p. 20
Abstract: The credit for tax on prior transfers can be based on an income interest. It's like a two-for-one sale.
"Whoops!" Trusts & Estates, May 2007, p. 63
Abstract: If an individual retirement plan fails to make required minimum distributions for any reason, there's a 50 percent tax on the shortfall. Luckily, the Internal Revenue Service can waive that tax. But does Revenue Procedure 2006-27 apply?
"IRS 'Clarifies' Rules for Inherited IRAs," Trusts & Estates Wealth Watch News, Vol. 2, No. 3, March 21, 2007 (email service)
"Face the Fear," Trusts & Estates, February 2007, p. 50.
"Retirement Benefits: It Was a Pretty Good Year," Trusts & Estates, January 2007, p. 34.
"IRA Opportunity," Trusts & Estates Wealth Watch News, November 29, 2006 (email service)
"Coping with the IRA Raid," Trusts & Estates, September 2006, p. 46.
"Moving Inherited IRA Funds," Ed Slott's IRA Advisor, July 2006
"Transferring IRAs," Estate Planning, April 2006
Co-author, "The Opportunity GRAT 'OPGRAT' Can Reward Success and Minimize Adverse Tax Consequences," Estate Planning, March 2006, p. 13
"A Brass Ring for IRD," Trusts & Estates, February 2006, p. 20.
"The Exceptional Growth Gift Trust - A Client-Oriented Letter," Steve Leimberg's Estate Planning Email Newsletter - Archive Message #918, 19-Jan-06
"IRS Resolves IRA Disclaimer Dilemma," 109 Tax Notes 478
(Oct. 24, 2005) 
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"QDRO Confusion Leads to Audit, Tax Court," Family Law News, Vol 27, No. 3
"Retirement Plan Rollovers and Transfers, Including Roth IRA Conversions and Recharacterizations," Michael J. Jones and Barry C. Picker, Proceedings of the New York University 63rd Institute on Federal Taxation, Chapter 24
"The Opportunity GRAT (OPGRAT)," Richard A. Oshins and Michael J. Jones, Practitioner's Strategies, CCH Estate Planning Expert Library (2005)
"Surviving Spouse's IRA Rollover Fails; Relief Granted Posthumously,"
108 Tax Notes 425 (July 25, 2005) download
"Trading on Interests in Trusts Holding Unrealized IRD," 107
Tax Notes 211 (Apr. 11, 2005) download
"Required Beginning Date Deferred by Rollover," 106 Tax Notes
451 (Jan. 24, 2005) download
"IRS, Don't Expand Condition for Defeating Predeceased Parent Rule," 105 Tax Notes 103 (Oct. 4, 2004)
"Can Predeath IRA Withdrawals be Rolled Over Posthumously?" 103 Tax Notes 1632 (June 28, 2004)
"Follow-Up to Article on Entity Elections for Trusts," 102 Tax Notes 1675 (Mar. 29, 2004) download
"Roth IRA Conversion Could Require Make-Up Distributions," 102
Tax Notes 760 (Feb. 9, 2004) download
"Distribution Tax Planning: Not Just Required Minimum Distributions," Proceedings of the New York University 62nd Institute on Federal Taxation, Chapter 26, Matthew Bender & Company, Inc.
"Temporary Bliss: An Entity Election for Trusts," 101 Tax Notes 1304 (Dec. 15, 2003) download
"Tax Court: Exception to Early Withdrawal Penalty Is Limited,"
101 Tax Notes 625 (Nov. 3, 2003) download
"Reform Madness: Does Tinkering With Trust Income Incur Gift Tax?" 97 Tax Notes 1715 (Dec. 30, 2002)
"Taxes, Options, and Deferred Comp. Plans on Divorce," Tax Notes, Sept. 9, 2002, p. 1500
"Clarification Still Needed Under RMD Regulations," Tax Notes, July 29, 2002, p. 699
"IRS Issues Final Regulations on Required Minimum Distributions," Aspen Publishing, web page
"Getting Out of the Penalty Box," Ed Slott's IRA Newsletter, March 2002, p. 7
"Preserving Capital Loss Deductibility in Estates," Tax Notes, February 18, 2002, p. 887
"A Rainy-Day Guide to Accessing Retirement Benefits," Tax Notes, December 17, 2001, p. 1606; Reprinted, The Monthly Digest of Tax Articles, May 2002
"Stock Options, Community Property, and Divorce," Tax Notes, Sept. 10, 2001, p. 1443; Reprinted, Family Law News, State Bar of California Family Law Section, Vo. 24, No. 3
"CPA Asks Service to Clarify MRD Calculations Under Proposed Regs," Tax Notes, June 11, 2001, p. 1854
"Life Expectancy of a Very Young Retirement Plan Beneficiary," Tax Notes, May 21, 2001, p. 1343
"Proposed Income Definitions Impact CRUTs," Tax Notes, May 14, 2001, p. 1133
"Incentive Stock Options and a Post-Exercise Decline in Value," Tax Notes, Feb. 5, 2001, p. 799
"While You Were Sleeping, Did Your IRA Roll Over?," Tax Notes, July 5, 1999, p. 97
"Chasing the Elusive Zero-Out GRAT," Tax Notes, Oct. 16, 2000, p. 398
"Estate Planning Implications of Bunney: A Carrot or a Stick?," Tax Notes, Aug. 14, 2000, p. 921
"Guidance on QTIP Elections and IRAs Offers Slim Benefits," Tax Notes, May 15, 2000, p. 961
"Avoiding the Family-Owned Business Deduction Recapture Tax," Tax Notes, Jan. 17, 2000, p. 381
"Roth IRA Gifts May Terminate Income Tax Benefits," Tax Notes, June 1, 1998, p. 1156
"Lifetime Gifts: A Non-Tax Perspective," Michael J. Jones and DeeAnn L. Thompson, Trusts and Estates, December 1999, p. 30
"Tailoring With An Unreliable Measuring Tape," Trusts and Estates, Vol. 140, No. 2, February 2001, p. 71
"How the New California Principal and Income Act Treats Distributions to Trusts from Qualified Retirement Plans and IRAs," California Trusts and Estates Quarterly, Vol. 6, No. 2, Summer 2000, p. 12
"The Dragon Slays Itself: IRS Simplifies Required Distributions from Retirement Plans," California Trusts and Estates Quarterly, Vol. 7, No. 1, Spring 2001, p. 10
"Revenue Ruling 2000-2 Makes it Easier to "QTIP" a Retirement Plan," Michael J. Jones and Steven E. Trytten, California Trusts and Estates Quarterly, Vol. 6, No. 1, Spring 2000, p. 20
"Using the Qualified Terminable Interest Property Trust as a Retirement Plan Beneficiary," Michael J. Jones and Steven E. Trytten, ALI-ABA Estate Planning Course Materials Journal, Vol. 6, No. 5, October 2000, p. 37
"Letter Ruling Allows Non-Pro Rata Allocation of Decedent's IRA Free of Income Tax," CCH Federal Tax Weekly, Practitioner's Corner, April 29, 1999
"Split Purchase of Personal Residence Achieved Within Qualified Personal Residence Trust," CCH Federal Tax Weekly, Practitioner's Corner, February 18, 1999
Required Minimum Distribution Planning, Proceedings of New York University's 57th Institute on Federal Taxation 1999, Matthew Bender & Company, Inc.
"Fine Tuning the Marital Deduction, Jerry A. Kasner and Michael J. Jones, Proceedings of New York University's 56th Institute on Federal Taxation 1998, Matthew Bender & Company, Inc.
"Estate Planning for Employee Benefits," Jerry A. Kasner and Michael J. Jones, Proceedings of New York University's Fifty-Fifth Institute on Federal Taxation, Matthew Bender & Company, Inc.
"What to Do About Administrative Blunders," Ed Slott's IRA Newsletter, February 2000, p. 6
"Splitting Heirs: Community Property and IRAs," Ed Slott's IRA Newsletter, June 2001, p. 6
"The IRS Revises Proposed Minimum Distributions Regulations Or: Some Demons Banished," Aspen Publishing, Web Page
"Characterizing CRT Distributions After TRA '97," Tax Notes, Tax Analysts, Vol. 78, No. 4, January 26, 1998, p. 455
"Helping Clients Understand Percentage-Of-Completion Accounting," Journal of Accounting, June 1998 p. 141.
