Tag Archives: RMD
If you’re turning 73 this year, you’re required to begin taking annual RMDs from tax-deferred retirement accounts like traditional IRAs. Failing to take the required amount comes with a stiff penalty—25% of what you should’ve withdrawn. However, if you catch up by taking the full withdrawal, the IRS may reduce the penalty to 10%. You […]
— Read more
The Internal Revenue Service has announced that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity to roll those funds back into a retirement account following the CARES Act RMD waiver for 2020. The 60-day rollover period for any RMDs already taken this year has […]
— Read more
