IRA Alert

Displaying 218 results
Midyear checkup on required minimum distributions
RETIREMENT RETIREMENT PLANNING JUN 10, 2021
Midyear checkup on required minimum distributions

On June 30, the SECURE Act change in the age at which RMDs must begin, to 72 from 70½, will be complete, and the confusing half-year era will finally end.

IRS says RMD rules are coming 'soon'
RETIREMENT RETIREMENT PLANNING JUN 02, 2021
IRS says RMD rules are coming 'soon'

An IRS official tells a bar association gathering that the arrival of proposed regulations covering the SECURE Act's required minimum distribution provisions will be 'later than imminent but before eventually.'

IRS clarifies the 10-year rule, but with added confusion
RETIREMENT RETIREMENT PLANNING MAY 27, 2021
IRS clarifies the 10-year rule, but with added confusion

The agency released a revised version of its publication covering rules on inherited IRAs that confirms there are no RMDs required during the 10 years. But the publication raises another question.

Another IRS update on the 10-year rule
RETIREMENT RETIREMENT PLANNING MAY 17, 2021
Another IRS update on the 10-year rule

The agency says it's revising Publication 590-B, which caused the confusion about the 10-year rule on required minimum distributions under the SECURE Act.

Congress, stop the madness and eliminate RMDs
RETIREMENT RETIREMENT PLANNING MAY 13, 2021
Congress, stop the madness and eliminate RMDs

The proposed SECURE 2.0 legislation seeks to raise the age for required minimum distributions, but that will create more problems than it solves.

The Triple Crown tax benefits of 2021 Roth conversions
RETIREMENT RETIREMENT PLANNING APR 30, 2021
The Triple Crown tax benefits of 2021 Roth conversions

With potential tax changes on the horizon, here are the IRA moves to make now.

Weighing in on disputed language in IRS 10-year RMD rule
RETIREMENT RETIREMENT PLANNING APR 28, 2021
Weighing in on disputed language in IRS 10-year RMD rule

While the IRS has not corrected the publication that suggested annual required minimum distributions under the 10-year rule, no one believes this to be correct.

IRS: SECURE Act’s 10-year RMD rule is not what you thought
RETIREMENT RETIREMENT PLANNING APR 12, 2021
IRS: SECURE Act’s 10-year RMD rule is not what you thought

The IRS released its interpretation of the SECURE Act’s rules for post-death payouts on IRAs and surprised everyone — and not in a good way!

Quirks in required minimum distributions this year
RETIREMENT RETIREMENT PLANNING MAR 16, 2021
Quirks in required minimum distributions this year

Here’s one 2021 oddity: It's impossible for anyone to have a required beginning date in 2021!

What clients won’t see on this year’s 1099-R form
RETIREMENT RETIREMENT PLANNING FEB 03, 2021
What clients won’t see on this year’s 1099-R form

Be ready to help worried clients (and their accountants), who will be calling you about 'mistakes' on their 1099-Rs regarding distributions from their IRAs. What they'll be calling about won’t be what’s on their form, but rather what’s not on there.

January is the new December for charitable contributions
RETIREMENT RETIREMENT PLANNING JAN 07, 2021
January is the new December for charitable contributions

Qualified charitable contributions can help offset the tax bill from required minimum distributions — but only with the right timing

Bob Dylan's tax planning could be tangled up in ... green?
RETIREMENT RETIREMENT PLANNING DEC 08, 2020
Bob Dylan's tax planning could be tangled up in ... green?

The Nobel Prize-winning musician may have sold his song collection, but 'Don’t Think Twice, It’s Alright,' because it’s a good year-end tax strategy

Last call for coronavirus-related distributions
RETIREMENT RETIREMENT PLANNING NOV 30, 2020
Last call for coronavirus-related distributions

CRDs are only available until year-end, so advisers should contact any clients who may still benefit from taking a distribution before the option expires

3 mistakes new IRA beneficiaries are making
RETIREMENT RETIREMENT PLANNING OCT 29, 2020
3 mistakes new IRA beneficiaries are making

Stretch IRA or 10-year rule? Advisers need to explain to clients which set of tax rules applies

What's the deal with Trump's taxes?
RETIREMENT TAX SEP 30, 2020
What's the deal with Trump's taxes?

Everyone wants to pay less in taxes, and financial advisers can help clients do that, legally

RMD return relief is over
RETIREMENT RETIREMENT PLANNING SEP 08, 2020
RMD return relief is over

Here are the rules on IRA rollovers that apply now that the Aug. 31 deadline for using the IRS relief has passed

RMD relief is here — but only until Aug. 31
RETIREMENT RETIREMENT PLANNING JUL 31, 2020
RMD relief is here — but only until Aug. 31

Act now to return unneeded required minimum distributions taken prior to the CARES Act

IRS provides expanded tax breaks for coronavirus-related distributions
RETIREMENT RETIREMENT PLANNING JUN 22, 2020
IRS provides expanded tax breaks for coronavirus-related distributions

The guidance allows more people to withdraw funds penalty-free from their retirement savings

4 unusual IRA issues related to deaths in 2020
RETIREMENT RETIREMENT PLANNING MAY 29, 2020
4 unusual IRA issues related to deaths in 2020

New tax rules for this year may change the results that you expected

The ABCs of coronavirus-related distributions
RETIREMENT RETIREMENT PLANNING MAY 12, 2020
The ABCs of coronavirus-related distributions

Who qualifies to pull money penalty-free from IRAs and company retirement plans under the relief provided by the CARES Act