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Inherited IRA distribution rules have changed in ways that can significantly impact your taxes and tax strategy.
Visit the IRS: Or, go to the source: Visit the IRS website to find additional information on RMDs, such as what they are, the types of retirement plans that require RMDs, the timeline for taking ...
One thing that makes most types of specialized retirement accounts so attractive is that investors don't have to pay taxes on the money they contribute to them until they begin making withdrawals.
Once you reach a certain age, you are required to start taking money out of certain retirement accounts. The required minimum distributions, or RMDs, depend on your age and account balance. If you don ...
RMD rules are more than just guidelines, according to EBRI research released last week. Instead, “RMD rules clearly are a default strategy for many people in what they take out of their IRAs," ...
My father passed away in 2016 at the age of 67 and my mother inherited his traditional IRA. She is treating it as her own. He had not started any RMDs prior to his death. A few statements in the ...
For non-spouse beneficiaries, RMD rules differ. Forgetting to make an RMD withdrawal can be an expensive mistake, with penalties of up to 25%. Depending on who they are, your beneficiaries may face ...
If an IRA is inherited through an estate, the distribution rules for the estate apply, even if the IRA is later transferred to a person. Distribution rules depend on whether the IRA owner died before ...
Once you reach a certain age, you are required to start withdrawing money from certain retirement accounts. This is known as required minimum distributions, or RMDs, and is an important concept for ...