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Know These 3 Facts to Avoid Paying Half Your Retirement Income to the IRS - January 30, 2020
Know These 3 Facts to Avoid Paying Half Your Retirement Income to the IRS - January 30, 2020
If you do not make a required minimum distribution (RMD) from your own or an inherited IRA by the specified deadline, the IRS could hit you with a big penalty - 50%! For example, if you were required to withdraw a minimum of $4,000 and you did not, you would be obliged to pay $2,000. Plus, beginning January 1, 2020, the rules concerning RMDs were updated.
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.
Comments
Its last NASDAQ contribution, dated Jan 14, was also linked to in a post
https://mutualfundobserver.com/discuss/discussion/54970/retirees-should-know-these-3-facts-about-required-minimum-distributions-january-14-2020
Compare and contrast with the excerpt above: