Penalty For Missed RMDs Is Reduced; Why You Should Care
While the penalty for a missed RMD has been reduced from 50% to 25% (and possibly 10%), it shouldn’t alter your approach for taking timely RMDs.
Age 72 Or 73? Confused About RMDs From IRAs?
When it comes to required minimum distributions and required beginning dates, be guided by your tax adviser.
Born In 1951? Want To Undo Your RMD? Deadline Is September 30
A recent change in the age for required minimum distributions from 72 to 73 has caused “mischaracterized” RMDs.
Midyear Alert: Have You Taken Your RMD? Should You Make A QCD?
If you haven’t yet taken the required minimum distribution from your IRA for 2023, consider a qualified charitable distribution.
Complicated Situations Can Arise Involving 401(k)s When Working After Age 72
Under the still-working exception, you can avoid taking required minimum distributions from your current employer's 401(k) at age 72 or older.
How To Avoid A Penalty On A Late RMD When The Error Isn’t Yours
If the IRA you inherited does not have the year-of-death required minimum distribution withdrawn before the deadline, what are your next steps?
Don’t Normally File A Tax Return? You May Be Due A Credit (A ‘Refund’) Nonetheless
Those who don’t normally need to file a tax return could benefit from doing so, since they could receive a refund if they are eligible for a tax credit.
Don’t Lose Your 2018 Tax Refund Forever: 1.5 Billion Reasons To Act Now
An estimated 1.5 million taxpayers are owed unclaimed tax refunds totaling almost $1.5 billion for the 2018 tax year, according to the IRS.