Common use of Rollovers of Settlement Payments From Bankrupt Airlines Clause in Contracts

Rollovers of Settlement Payments From Bankrupt Airlines. If you are a qualified airline employee who has received an airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your IRA by the later of 180 days after receipt of such amount, or 180 days after February 14, 2012. If you make such a rollover contribution to your Xxxx XXX, you may exclude the amount rolled over from your gross income in the taxable year in which the airline settlement payment was paid to you. If you previously rolled over such a contribution to a Xxxx XXX, you may move all or a portion of it to a Traditional IRA as a qualified rollover contribution by directly moving the assets, plus the earnings attributable to them, to a Traditional IRA within 180 days after February 14, 2012. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

Rollovers of Settlement Payments From Bankrupt Airlines. If you are a qualified airline employee who has received an airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over rollover any portion of the proceeds into your IRA XXX by the later of 180 days after receipt of such amount, or 180 days after February 14, 2012. If you make such a rollover contribution to your Xxxx XXXcontribution, you may exclude the amount rolled over, you may excluded the amount rolled over from your gross income in the taxable year in which the airline settlement payment was paid to you. If you previously rolled over such a contribution to a Xxxx XXX, you may move all or a portion of it to a Traditional IRA XXX as a qualified rollover contribution by directly moving the assets, plus the earnings attributable to them, to a Traditional IRA XXX within 180 days after February 14, 2012. To obtain more information on this type of or rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

Rollovers of Settlement Payments From Bankrupt Airlines. If you are a qualified airline employee who has received an airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your IRA XXX by the later of 180 days after receipt of such amount, or 180 days after February 14, 2012. If you make such a rollover contribution to your Xxxx XXXcontribution, you may exclude the amount rolled over from your gross income in the taxable year in which the airline settlement payment was paid to you. If you previously rolled over such a contribution to a Xxxx XXX, you may move all or a portion of it to a Traditional IRA XXX as a qualified rollover contribution by directly moving the assets, plus the earnings attributable to them, to a Traditional IRA XXX within 180 days after February 14, 2012. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

Rollovers of Settlement Payments From Bankrupt Airlines. If you are a qualified airline employee who has received an airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your IRA by the later of 180 days after receipt of such amount, or 180 days after February 14, 2012. If you make such a rollover contribution to your Xxxx XXXcontribution, you may exclude the amount rolled over from your gross income in the taxable year in which the airline settlement payment was paid to you. If you previously rolled over such a contribution to a Xxxx XXX, you may move all or a portion of it to a Traditional IRA as a qualified rollover contribution by directly moving the assets, plus the earnings attributable to them, to a Traditional IRA within 180 days after February 14, 2012. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.