H.R. 6757 proposes changes to the Internal Revenue Code of 1986 to allow Roth IRA funds to be transferred directly into designated Roth accounts through a trustee-to-trustee transfer. It specifies how these transfers are treated for tax purposes, ensuring they qualify as...
Simple Explanation
H.R. 6757 wants to allow people to move money straight from one type of savings account called a Roth IRA to another, called a designated Roth account, kind of like moving toys from one toy box to another, without causing any trouble with the rules.