Oppurtunity To Avoid Higher Taxes By Reverting To Traditional IRA

For the first time ever, last year conversions of a traditional IRA into a Roth account were allowed, irrespective of how much the income bracket was. However, the conversion of the traditional IRA no longer seems to be the wise thing to do, or have done. This is so that the unpredictable performance of the stock market has left people who converted the IRA ot pay taxes on values that no exist no more.
But fear not, since this is correctable till the 17th of October. Yes, all conversions of the traditional IRA into Roth IRA can be reversed, or "recharacterised".
The Internal Revenue Service lingo will allow you to undo the IRA conversion by "recharacterizing" the Roth account back to traditional IRA status. The tax hit is avoided in this manner, but do take better care next time around.