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 ...

If you're at least 73 years old and have a traditional tax-advantaged retirement account, the Internal Revenue Service (IRS) requires that you withdraw a minimum amount of money every year and pay the ...

There's no denying the tax benefits of funding a retirement account, one of which is the compound effect of tax-deferred growth. But your money can't avoid the IRS forever. All too often, owners 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 ...

Whether it's the soaring costs of living, surging debt, or to address emergency expenses – the devastating impact from Hurricane Helene and Hurricane Milton in the Southeastern US comes to mind – ...