Defer Taxes on a Refund with a Rollover

You can rollover your refund payment to an Individual Retirement Account (IRA) or other qualified retirement plan. 

By rolling the funds into a qualified account, you may be able to defer any taxes and penalties that can occur with a lump-sum refund of your contributions and interest.

NOTE: Funds rolled into a Roth IRA are considered taxable income in the tax year the rollover takes place.

We strongly advise that you read the brochure, Your Rollover Options, which you will receive with your Refund Application. For further assistance you may wish to contact a tax professional.

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