Author: Greg White
CPE Credit: 2 hours for CPAs
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
Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
The IRAs: What You Need to Know About Contributions, Conversions and Distributions ACCPE on-demand video CPE course is a flexible self-study program designed for CPAs and accounting professionals. This course provides practical knowledge and real-world applications. You can complete the course online and receive your certificate instantly upon passing the exam. ACCPE makes earning CPE convenient, affordable, and fast.
