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Tax Tip of the Week | No. 245 | It Is Better to Extend vs. Not File on Time

If you haven’t filed your tax return by now, you should probably consider filing for an extension. It is a lot easier to file for an extension than it is to amend a return later for a mistake you made trying to rush your return to completion. Even more costly is if the IRS finds a mistake you made and assesses underpayment penalties and interest.

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Tax Tip of the Week | No. 244 | Be Careful With IRA Rollovers

In Bobrow v. Commissioner (TC Memo 2014-21), the Tax Court ruled that the one-rollover-per-year rule applies to all of a taxpayer's IRAs rather than to each IRA separately. This ruling conflicts with IRS Publication 590 which gives the following example:

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