Need a little cash from your Individual Retirement Account (IRA)? Just a short-term need with the intent to replace the funds without triggering a taxable distribution? That’s often referred to as a 60-day rollover – draw the funds to meet the short-term need, then return the money to the IRA within 60 days, and there are no tax consequences. For many years it was widely believed that one 60-day rollover was allowed from each IRA that a taxpayer maintained. The U.S. Tax Court (see Bobrow v.