Savers Get a Break on IRA Rollovers

New rules at the IRS cut you a break when you're rolling over one retirement account to another. If you don't roll over funds within 60 days, the money is treated as a distribution, subject to penalty and taxes. You always had the option of applying for a waiver and then waiting for a private letter ruling from the IRS, with the money in limbo in the meantime. Now, you'll get the benefit of the doubt if you submit a statement saying that you missed the deadline for one of 11 reasons. Among them: the financial institution receiving or making the distribution made an error; the taxpayer or a family member was seriously ill; or the most time-honored of all, the Post Office messed up.