IRS Issues Updated Pensions and Annuity Income Publication

February 9, 2006 – The IRS has posted a revised version of Publication 575, Pension and Annuity Income, to be used in the preparation of 2005 tax returns. The publication includes information on taxation of retirement arrangement distributions, limited content on variable annuities and 457 deferred compensation plans, special taxation of early distributions, etc. The updated publication includes the addition of general information on hurricane disaster-related relief, including qualified distributions, repayment of such distributions, and amending of tax returns as may be required.

Publication 575 may be accessed at http://www.irs.gov/pub/irs-pdf/p575.pdf.