In general, anyone with a tax-deferred retirement account must take withdrawals called required minimum distributions (RMDs) beginning at age 73. RMDs are calculated by dividing the retirement account ...

Are you fortunate enough to not yet need the withdrawal from your retirement account that the IRS is forcing you to take at some point during the year ahead? If so, congratulations! And don't sweat it ...

I have always said that asset accumulation is easy but the true difficulty is in asset distribution. There is no single plan that is right for everyone. Perhaps the best-known distribution plan is the ...

The original SECURE Act increased the required beginning date (RBD), or the age at which taxpayers must begin taking distributions from traditional retirement accounts, from age 70.5 to age 72. The ...

In Fields v. Commissioner, T.C. Memo. 2014-48 (March 19, 2014), the Tax Court determined that a petitioner was liable for a 10 percent additional tax pursuant to Internal Revenue Code Section 72(t)(1) ...

The newly issued Revenue Ruling 2025-15 clarifies income tax withholding and reporting rules for uncashed retirement plan checks. Generally, adjustments or refunds of income tax withheld on a ...

RMDs are due when you reach age 73 (or 75, if you were born in 1960 or later). Failure to take your RMD by the deadline could lead to an excise tax of 25%. Still working? Be sure to find out if you ...

I have always said that asset accumulation is easy but the true difficulty is in asset distribution. There is no single plan that is right for everyone. Perhaps the best-known distribution plan is the ...

During challenging financial times, people often consider withdrawing money from their 401(k) plans. Balances in 401(k) plans are deceiving. They are not like checking accounts where what you see is ...