When filing taxes, it’s important to make sure you’re reporting all of your income correctly. That includes making note of early distributions from qualified retirement plans or other tax-favored ...

IRA holders and those who provide them services may be interested to know that the IRS has made modifications to the Form 5329, “Additional Taxes on Qualified Plans (Including IRAs) and Other ...

The IRS on Jan. 21 issued the instructions for the Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts to be used in reporting concerning benefits and ...

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 ...

When a client fails to take a required minimum distribution, you usually want to seek a waiver of the 50% penalty that would apply to this mistake. My October 2015 column explained exactly how to ...

Required minimum distributions are supposed to be a routine part of retirement, yet every year investors leave money in their ...

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 SECURE 2.0 Act of 2022, enacted Dec. 29, includes almost 100 new retirement plan provisions, many of which aren’t effective yet. But some big changes involving required minimum distributions and ...

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 ...