IRA Roth Conversions

A Roth IRA is a special type of retirement plan under US law that is generally not taxed, provided certain conditions are met. The Roth Individual Retirement Account (IRA) is one of a number of plans allowed under the tax law of the United States that allows a tax reduction on a limited amount of saving for retirement. The Roth IRA is named for its chief legislative sponsor, the late Senator William Roth of Delaware. The Roth IRA's principal difference from most other tax advantaged retirement plans is that, rather than granting a tax break for money placed into the plan, the tax break is granted on the money withdrawn from the plan during retirement.