The penalty for missing a required minimum distribution (RMD) is one of the largest in the Tax Code. For years it was 50 percent of the amount that should have been taken but was not. That penalty was ...

According to IRA expert Ed Slott (www.irahelp.com ), the penalty protection for missed required minimum distributions (RMDs) may not be as good as it seems. The SECURE 2.0 Act, passed at the end of ...

When a client fails to take a required minimum distribution, you usually want to seek a waiver of the 50% penalty that would apply to this mistake. My October 2015 column explained exactly how to ...

If you have put your hard-earned money in an individual retirement account (IRA) or any retirement account, then you know that you can’t leave it there forever. So, if you are 73 or older in 2023, you ...

When someone passes away after age 70 1/2, the family needs to check to see if the deceased took out the required minimum distributions for the year from his IRA (individual retirement account). If ...

Investors older than 70 1/2 must withdraw an IRA required minimum distribution (RMD) from traditional/SEP/SIMPLE IRAs and 401(k)s by the applicable deadline--normally ...

A trio of IRS forms can lead you astray regarding proper tax treatment of your retirement benefits. Form 5498 for inherited IRA: The first is IRS Form 5498, the "information return" your IRA provider ...

Busy lives cause recent retirees to overlook minimum distribution requirements from their 401k plans and IRAs. NEW YORK (MainStreet) — April 1 was the deadline for those who turned 70 ½ in 2014 to ...