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Retirees Should Know These 3 Facts About Required Minimum Distributions - January 14, 2020
Failing to withdraw a required minimum distribution (RMD) from your own or an inherited IRA by the deadline results in a big tax code penalty: 50%. That's right. If you were supposed to take out a minimum of $4,000 and (oops!) did not do so, you have the privilege of writing the IRS a check for $2,000. It's important to remember that the rules related to RMDs changed on January 1, 2020
