Again I think its a govt gimmick. The conversion tax will be lower this year than 2011 or 2012. The govt wants to tax these instruments to the max. Pay the tax upfront with no surprises.
From what I read in Pub 590, that special deal will extend into the future, at least as far as waiving some of the requirements, maybe not as to reporting the funds as income over a couple of years. I already converted the funds months ago, now I have to figure out how best to report it. . .
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