Displaying 179 results
Court rules inherited 401(k) funds are protected in bankruptcy
A North Carolina Bankruptcy Court decided that inherited 401(k) accounts do indeed receive creditor protection under ERISA as long as the funds are still in the plan at the time of the bankruptcy filing.
IRA trustees wipe out an inherited IRA — their own
A lifetime of accumulation and growth goes up in smoke because the beneficiaries don’t know the IRA trust tax rules. Advisers can help their clients avoid such colossal blunders.
Time’s running out for a mega qualified charitable distribution!
2021 is the last year your clients can use their retirement funds for unlimited charitable giving as a result of provisions in recent tax laws.
Midyear checkup on required minimum distributions
On June 30, the SECURE Act change in the age at which RMDs must begin, to 72 from 70½, will be complete, and the confusing half-year era will finally end.
IRS says RMD rules are coming ‘soon’
An IRS official tells a bar association gathering that the arrival of proposed regulations covering the SECURE Act's required minimum distribution provisions will be 'later than imminent but before eventually.'
IRS clarifies the 10-year rule, but with added confusion
The agency released a revised version of its publication covering rules on inherited IRAs that confirms there are no RMDs required during the 10 years. But the publication raises another question.
Another IRS update on the 10-year rule
The agency says it's revising Publication 590-B, which caused the confusion about the 10-year rule on required minimum distributions under the SECURE Act.
Congress, stop the madness and eliminate RMDs
The proposed SECURE 2.0 legislation seeks to raise the age for required minimum distributions, but that will create more problems than it solves.
The Triple Crown tax benefits of 2021 Roth conversions
With potential tax changes on the horizon, here are the IRA moves to make now.
Weighing in on disputed language in IRS 10-year RMD rule
While the IRS has not corrected the publication that suggested annual required minimum distributions under the 10-year rule, no one believes this to be correct.
IRS: SECURE Act’s 10-year RMD rule is not what you thought
The IRS released its interpretation of the SECURE Act’s rules for post-death payouts on IRAs and surprised everyone — and not in a good way!
Quirks in required minimum distributions this year
Here’s one 2021 oddity: It's impossible for anyone to have a required beginning date in 2021!
What clients won’t see on this year’s 1099-R form
Be ready to help worried clients (and their accountants), who will be calling you about 'mistakes' on their 1099-Rs regarding distributions from their IRAs. What they'll be calling about won’t be what’s on their form, but rather what’s not on there.
January is the new December for charitable contributions
Qualified charitable contributions can help offset the tax bill from required minimum distributions — but only with the right timing
Bob Dylan’s tax planning could be tangled up in … green?
The Nobel Prize-winning musician may have sold his song collection, but 'Don’t Think Twice, It’s Alright,' because it’s a good year-end tax strategy
Last call for coronavirus-related distributions
CRDs are only available until year-end, so advisers should contact any clients who may still benefit from taking a distribution before the option expires
3 mistakes new IRA beneficiaries are making
Stretch IRA or 10-year rule? Advisers need to explain to clients which set of tax rules applies
What’s the deal with Trump’s taxes?
Everyone wants to pay less in taxes, and financial advisers can help clients do that, legally
RMD return relief is over
Here are the rules on IRA rollovers that apply now that the Aug. 31 deadline for using the IRS relief has passed
RMD relief is here — but only until Aug. 31
Act now to return unneeded required minimum distributions taken prior to the CARES Act
