Earlier this year, the NCPA released a Brief Analysis on the 2010 tax law change that allows individuals of any income level to convert a traditional IRA to a Roth IRA. For most people, the benefits outweigh the costs. But a New York Times article released
today gives some important tips on how to convert. If you are considering a Roth conversion, but are not into following up and paying attention to detail, you may find yourself unintentionally paying the tax bill out of the Roth IRA, as well as a 10 percent penalty. Most Roth mistakes can be fixed within 60 days of conversion, says the Times. But procrastinators beware!