Retirement Distributions and the Coronavirus

Prior to the coronavirus pandemic, the tax law required individuals to take annual distributions from tax-deferred retirement accounts commencing with the year one reached the age of 72.  This amount, known as a Required Minimum Distribution (RMD), was recalculated annually based on actuarial tables and taken into income over the remaining lifespan of the taxpayer.  [...]

By |2020-08-11T13:47:45+00:00August 11th, 2020|Coronavirus, Retirement, RMD|0 Comments