Important Trust Deadline Approaching
For trusts that inherited an IRA in 2019, an important deadline is approaching. The due date to provide required trust documentation to the IRA custodian to ensure that the longest …
For trusts that inherited an IRA in 2019, an important deadline is approaching. The due date to provide required trust documentation to the IRA custodian to ensure that the longest …
Despite the COVID-19 pandemic, or maybe even because of it, real estate markets in many areas of the country are busy right now. If you are considering jumping in, and …
Penalty-free IRA Distributions for First Home Purchase Read More »
Notice 2020-50 includes expanding the categories of individuals eligible for these types of distributions and loans (referred to as “qualified individuals”) and provides guidance and examples on how qualified individuals will reflect the …
IRS Expands Eligibility for CARES Act Retirement Distributions Read More »
FIX: Rolling Over the Tax Withheld on a Distribution. Was the mandatory tax of 20% withheld on your work plan withdrawal even though you intended to roll over the entire …
Correcting Retirement Transactions and Those That Are Lost Read More »
The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw …
Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the …
It’s common for IRA owners to leave their assets to multiple beneficiaries – for example, their children. Before the SECURE Act, it usually made sense to split the IRA into …
Tapping Into Retirement Accounts if Not Directly Impacted by COVID-19 Read More »
As the coronavirus pandemic has spread, many Americans have been hit hard. Their retirement accounts have also taken a serious blow as markets have plummeted. In these tough times, there …
The coronavirus has been wreaking havoc on markets and millions of retirement account balances have suffered significant losses. This has left many IRA owners looking at lower account balances after …
Retirement Savings in a Volatile Market: Is Now the Time for a Roth IRA Conversion? Read More »
It’s common for IRA owners to leave their assets to multiple beneficiaries – for example, their children. Before the SECURE Act, it usually made sense to split the IRA into …