So I predict that the 2012 prize for Economics will go to nobody, and the million dollar prize fund will rollover to 2013.
Taxpayers would pay tax up front on the rollover funds but, in the future, all of the earnings on these funds would be completely tax-free.
"If there's uncertainty about exposures and a lack of transparency, there's always the risk that people may feel it's just not worth continuing the rollover funding to institutions," Mr. King said.
The IRS did invoke Wood to give a break to a taxpayer whose rollover funds were embezzled by a bank employee.
As a self-employed person, Randy has the opportunity to set up a Solo 401(k) and initially fund it with a tax-free rollover comprising all his IRA funds.
But many expect Spain to seek help after the permanent bailout fund is set up and before a big rollover of debt on Oct. 19.
Despite these corporate efforts to ensure an easy rollover into the year 2000, mutual fund shareholders wanting to protect themselves against potential snafus should adopt a common sense approach.
Just those two rollovers would wipe out the amount the fund has available to lend worldwide, about $400 billion.
Currently, a broker may recommend a high-expense mutual fund for a client investing in a 401(k) rollover or a new IRA.
The arts won a number of other legislative victories too, such as increased federal arts funding and arts-friendly legislation regarding both IRA tax rollovers and visa law along with key successes at the state and local levels.
