A 50 year old individual leaves a corporate employer and receives a $50,000 lump sum distribution from the pension plan. He rolls over $30,000 of the funds within 60 days into an IRA and deposits the rest to his checking account. The individual pays:

The individual pays tax on the $20000 not roll over

Explanation:

A roll over is the withdrawal of cash or other assets from a retirement plan and then using part or all of it within 60 days into another retirement plan. Roll overs are not taxable.

The individual receives $50000 and rolls over $30000 of his funds. The roll over fund is considered as an income but it is not taxable since it was done within 60 days therefore the individual is tax on the money which was not roll over.

Money not roll over = $50000 - $30000 = $20000

Therefore the individual pays tax on the $20000 not roll over

1. avoid them

2. a talk with them

3. ask someone you trust

4. ignore

5. call police

answercountries with higher real income per capita tend to have higher levels of this index.