Final regulations deliver clarity on 10-year rule
With final regulations announced, heirs now have clarity on the 10-year rule for distributions from inherited retirement accounts.
Tag: IRS
New ways to avoid early withdrawal penalties from retirement accounts
IRS recently provided details on new provisions to avoid the early withdrawal penalty from retirement accounts.
IRS allowing heirs to skip RMDs in 2024
Heirs with inherited retirement accounts can skip taking RMDs this year without penalty under IRS guidance.
How to avoid a misstep with a backdoor Roth contribution
It is important to note there are some potential mistakes to be avoided when executing a backdoor Roth strategy.
IRS allowing heirs to skip RMDs in 2023
The IRS recently delivered more guidance for heirs on how to handle RMDs with inherited accounts.
Often overlooked retirement plans for the self-employed
Roughly 25 million small businesses are self-employed individuals and many do not have retirement plans in place.
Heirs still waiting for clarity on 10-year rule
Although the Treasury Department issued proposed regulations for the new 10-year rule in February 2022, heirs are still waiting for final clarification.
Putting your tax refund to work
With an average tax refund of more than $3,000 many taxpayers are planning to save the funds this year and pay down debt or save for the future.
Leading tax topics on the minds of financial advisors
SECURE Act regulations, the SALT deduction, and Roth IRA strategies were among the leading tax topics raised by financial advisors at a recent webcast.
Changes to the 10-year rule could surprise retirement account heirs
The IRS is proposing new rules for retirement account distributions including changes to the requirements of the 10-year rule for heirs.