Christopher R. Hoyt, professor of law at the University of Missouri-Kansas City Law School, and Bruce D. Steiner, attorney in the New York office of Kleinberg, Kaplan, Wolff & Cohen, P.C., give us this lowdown on Notice 2007-5, 2007-5 IRB 1. With this notice, the Internal Revenue Service has issued guidance under the Pension Protection Act (PPA), including guidance on charitable payments from individual retirement accounts (IRAs) and direct rollovers from qualified plans to inherited IRAs
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