by: Lou Carlozo

The thousands of pages of the federal tax code — and the tens of thousands of pages of ensuing regulations and judicial rulings — offer many ways to reduce your taxes. These arrangements are often nicknamed loopholes when they apply to only some people. Loopholes can be infamous, but they’re not illegal.

And while not all good things financial come to an end — deferred taxes on retirement accounts, for example — certain loopholes teeter on the chopping block as though the IRS painted targets on taxpayers’ backs. (To be clear: They haven’t actually done that. Still, isn’t it fun to blame the IRS for pretty much everything?)

Love these loopholes while you can, or learn about the 2015 changes. In the case of one retirement perk, you’d better jump on it now — even though chances are excellent not even your accountant knows just yet.

1. IRAs: Roll Over and Die

Just a few months ago, you could roll over money from one IRA to another — or take money out of still another IRA and repay it — so long as you did it within 60 days. That way, you avoided any tax issues. But if you’re hoping to have fun juggling multiple IRAs in 2015, the party’s over. As of Jan. 1, you can only roll over once every 12 months. That’s not once per account, but once, period — no matter how many IRAs you own.

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