The Fidelity email outlined it pretty good. If you are doing conversions manually currently then call and do your last one on the 23rd. Obviously next year you won't be able to do anything but look for other ways to find tax advantaged investments. They told us taxes won't be going up on the middle class - did anyone really believe them? If this doesn't pass now it will come up again. They need more of your money. The inflation tax we are paying now isn't enough.