Required Minimum Distributions

News & Analysis as of

Congress Approves Tax Extension Bill

TWO WEEKS ONLY! SAVE NOW! Congress has finally approved the extenders bill in what is widely viewed as terrible tax policy, but a welcome holiday gift nonetheless. The Tax Increase Prevention Act of 2014 extended a...more

IRA “Charitable Rollover” Retroactively Extended Through 2014

Background - As a part of the so-called “Cromnibus” bill, Congress has extended dozens of expired “temporary” tax breaks for 2014. Included in that group is a rule that allows for tax-free treatment of certain...more

IRA Charitable Rollover Extended

For some, the end of the calendar year means more than just the deadline for charitable contributions for the tax year. December 31 is also the deadline to take certain mandatory distributions from individual retirement...more

How to Make the Most of Your Required Minimum Distributions

Now that we have discussed the basics of Required Minimum Distributions (RMD) in The ABCs of RMDs, it’s important to see how you can get the most from your money. RMDs may be a mandate, but that does not mean there isn’t...more

IRS Modifies Required Minimum Distribution Rules to Permit Purchase of Longevity Annuities in Defined Contribution Plans

The IRS has issued final regulations modifying the required minimum distribution rules that apply to defined contribution retirement plans to accommodate the purchase of annuities known as qualifying longevity annuity...more

IRS Gives QLACs the Green Light: Final Regulations Issued

On July 1, 2014, the Internal Revenue Service (“IRS”) issued final regulations (“Final Regulations”) that permit employers and IRA providers to offer “qualified longevity annuity contracts” or “QLACs” under defined...more

Rules Will Allow Issuance of Longevity Insurance in Retirement Plans

On July 1, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued final rules excluding qualifying longevity annuity contracts (QLACs) from the required minimum distribution rules (RMD...more

RMD Rules for Longevity Annuities Finalized

Longevity annuities are contracts that provide life annuity payments typically commencing at age 80 or 85; in many (but not all) cases, that is the only benefit the contract provides. As such, these contracts may offer...more

Year End Planning for a Prosperous New Year

As you make your holiday plans and prepare to ring in the New Year, it is also a great time to review your estate and tax plan. The following estate and tax planning tips may be useful in ensuring that your family has a...more

New Developments Impact Retirement Plans and Other Employee Benefits

Year-End Amendments - The month of December is a bit different in 2013. Typically, we mark this time scrambling to amend 401(k), profit sharing, and money purchase plans in order to maintain their tax-qualified status....more

Revival of the Direct Charitable IRA Transfer

The new Fiscal Cliff legislation, H.R.8, the “American Taxpayer Relief Act” (“ATRA”) extends the Direct Charitable IRA Transfer treatment through December 31, 2013. This means that Donors age 70½ or older can ask their IRA...more

McNees Insights - Fall 2012

In This Issue: Year-End Tax Planning - Year-end planning is a bigger challenge this year than in past years because, unless Congress acts, tax rates will go up next year, many more individuals will be snared by...more

What Mitt Romney’s Tax Returns Teach Us About Accumulating Wealth

To watch our video please click here http://www.scarincihollenbeck.com/what-mitt-romneys-tax-returns-teach-us-about-accumulating-wealth/ The income tax return information released by Governor and Mrs. Romney (the...more

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