Displaying 33 results
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.
House panel unanimously passes SECURE 2.0
The bill, which advances to the House floor with a strong bipartisan push, would raise the RMD age from 72 to 75, among many other provisions.
House committee poised to advance SECURE 2.0 retirement savings bill
The bill, which builds on the SECURE Act, would raise the required minimum distribution age from 72 to 75 over 10 years.
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.
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!
Wealthier clients saving in 401(k)s may fall into tax trap
Too much money in tax-deferred retirement accounts could undermine clients' financial plans if taxes rise in the future to pay for today’s exploding government spending.
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.
Delaying RMDs would have minimal tax impact, study finds
TIAA Institute research paper finds that even eliminating RMDs would have little effect on government revenues and says the effect on retirees depends on whether they have a bequest motive.
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
Retirement bill offers glimmer of hope
There’s a lot in the bill for pre-retirees, company sponsors and retirees, but the changes proposed for retirees jumped out at me
Bipartisan retirement bill would increase RMD age to 75
The measure would build on the SECURE Act, but its legislative path is uncertain
