News By Tag
News By Location
Minimum IRA withdrawal Rules May Change
As the value of most IRAs has declined with the economic climate, it appears likely that the Congress/Treasury action will at least temporarily change minimun distribtion rules after 70 1/2 to prevent beng forced to liquidate devalued holdings.
Both presidential candidates have come out in favor of temporarily changing the rules requiring the mandated required minimum distributions.
While details are now unavailable, the relief would have to be something that the majority of people can take advantage of.
The JOURNAL's best advice: Delay taking the mandatory minimun distribution to see and hold off as long as possible to see how the rules change.
# # #
AllMetroTaxRelief.com is trade name for Mark Schrimpf, IRS lilcensed Enrolled Agent helping taxpayers with IRS problems, IRS debt, federal & state return preparation and a full range of federal tax services based on 20+ years of inside IRS experience.