If you planned on converting your Traditional IRA to a Roth IRA in 2010 because of the repeal of the AGI limitation of $100,000, don’t panic! Even though you can no longer defer paying taxes until 2011 and 2012 (now you have to pay tax on the conversion in the current year), at least you can still make the conversion in 2011 if you want. Just remember you have to pay income taxes on your 2011 conversion by April 15, 2012, so make sure you have the money outside of the IRA to pay the tax. You also have to keep the money in the account for the later of 5 years or when you turn 59 1/2 or you pay 10% in penalties, although you can take the contributions back without penalty any time.
There may also be a planning opportunity. Say you make too much to make a Roth contribution but you have a 401K at an old job or aTraditional IRA; you could convert some or all of it. Let me know if you have questions.