Required Minimum Distributions (RMD) are required taxable distributions from qualified retirement plans and are commonly associated with traditional IRAs. However, they also apply to 401(k)s and SEP IRAs. The tax code does not allow taxpayers to indefinitely keep funds in their qualified retirement plans. Eventually, these assets must be distributed, and taxes must be paid …
What Are RMDs?
Did You Take Your 2020 Required Minimum Distributions (RMD) Too Soon?
As part of the CARES Act, the requirement for taxpayers to take required minimum distributions (RMDs) has been waived. This is due to the drop in value for most investments as a result of the economic effects of COVID-19. What are Required Minimum Distributions (RMD) RMDs are required distributions from qualified retirement plans. They are …
Did You Take Your 2020 Required Minimum Distributions (RMD) Too Soon?Read More
