According to IRA expert Ed Slott (www.irahelp.com ), the penalty protection for missed required minimum distributions (RMDs) may not be as good as it seems. The SECURE 2.0 Act, passed at the end of ...

The penalty for missing a required minimum distribution (RMD) is one of the largest in the Tax Code. For years it was 50 percent of the amount that should have been taken but was not. That penalty was ...

When someone passes away after age 70 1/2, the family needs to check to see if the deceased took out the required minimum distributions for the year from his IRA (individual retirement account). If ...

Question from Mary Beth April 10, 2006 at 2:44pm We found two mistakes on last year's taxes. We filed on April 11 and my husband had open heart surgery on April 13. We were distracted which I am sure ...

A trio of IRS forms can lead you astray regarding proper tax treatment of your retirement benefits. Form 5498 for inherited IRA: The first is IRS Form 5498, the "information return" your IRA provider ...