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New IRA Document Guidance The IRS has just released Revenue Procedure (Rev. Proc.) 2010-48 which provides guidance to IRA providers using IRS model and/or prototype IRA documents. Scheduled to be published in Internal Revenue Bulletin (IRB) 2010-50 on December 13, 2010, Rev. Proc. 2010-48 announces the impending issuance of several new model IRA riders and confirms that updated versions of pre-existing model IRA documents will be issued shortly. The revenue procedure also provides a detailed summary of the tax-law changes that have affected IRAs since 2002 and provides preliminary guidance concerning the various go-forward alternatives available to IRA providers.
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