Michael J. Jones

Michael
J. Jones
Partner ,
Thompson Jones LLP

Mike is a partner in Thompson Jones LLP. His tax consulting practice focuses on sophisticated wealth transfer strategy, trust and probate matters (both administration and controversy resolution), family business transitions, and taxpayer representation before the IRS. He is a noted authority on estate planning for IRA and retirement plan benefits, and chairs Trusts & Estates magazine's Retirement Benefits Committee. Mike was listed among CPA Magazine's Top 50 IRS Practitioners and Top 40 Tax Advisors to Know During a Recession.

Articles
Hedging Against Longevity In Retirement Plans 2
If, as the old quip goes, the worst disease is growing old without money, then the second worst must be running out of money shortly before running out of time. The cure might just be found in final IRS qualified longevity annuity contract regulations.
The 5 Percent Solution
Michael J. Jones highlights the potential benefits of charitable remainder trusts
Turn of the Screw
In Announcement 2014-15, the IRS said that it will follow the Tax Court’s holding in Bobrow v. Commissioner, strictly applying the one-IRA-rollover-per-12-months rule to all of a taxpayer’s IRAs
Seeing Double 1
In Bobrow, et ux v. Comm'r., T.C. Memo. 2014-21 (Jan. 28, 2014), the Tax Court held that individual retirement account rollover year rules preclude a rollover from a two separate IRAs within the 12-month period beginning with the first of two IRA distributions. That holding is contrary to Publication 590’s clear statement to the contrary on which many taxpayers have no doubt relied. Thus, numerous taxpayers now face tax peril that can undermine retirement security.
An Ounce of Prevention
Mike Jones addresses how to preserve your clients' tax benefits when migrating assets from retirement funds to IRAs
Game Changer
Michael J. Jones & Michelle L. Ward discuss the bundle of rights that accompany being a legal spouse
Alternative Investments in IRAs
Michael J. Jones & Michelle L. Ward offer guidance on handling the complications that can ensue
Sixteen Examples of Qualified Charitable Distributions from Individual Retirement Accounts
Michael J. Jones offers some examples of how QCD transition rules operate in the wake of the American Taxpayer Relief Act
A Break in the Clouds
Michael J. Jones reflects on the developments in the retirement benefits community in the last year
A New Twist On an Old Election
Michael J. Jones describes some of the new rules that apply to tax-free qualified distributions from individual retirement plans.
Clawing Back at Clawback
Michael J. Jones suggests a potential positive side of clawback
IRS Grants Surviving Spouse’s Individual Retirement Account Rollover Request
Michael J. Jones, partner in Monterey Calif.’s Thompson Jones LLP, discusses a private letter ruling that underscores the importance of considering the hazards of naming a trust or an estate as IRA beneficiary when the surviving spouse will wind up with the ability to direct the IRA to themselves
How to Correctly Determine Annuity’s Present Value
Michael J. Jones, partner at Monterey, Calif.’s Thompson Jones LLP clarifies that practitioners must use nearest age, not attained age, when determining the present value of an annuity, an interest for life or for a term of years or a remainder or a reversionary interest
Five-year Rule Proposal
Battle cry: “No death tax on the middle class”
Response to Reader Questions: Yes, Clawback is Real
A tax rule set to expire is creating confusion
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