When you turn 70 1/2, tax law demands you take some money out of traditional IRAs and other tax-deferred retirement accounts. One senator wants to make those required minimum distributions, or RMDs, later.
Baby boomers start turning 70 1/2 this year, but it’s the IRS that will be getting the gifts when boomers start taking taxable required distributions from retirement accounts.
If you turned 70 1/2 in 2015 and have an IRA or a 401(k), the IRS says you must take a withdrawal by April 1.
If you’re older than 70 1/2, the IRS demands that you pull some money from your tax-deferred savings accounts and give Uncle Sam his share.
President Barack Obama’s 2015 budget takes aim at Roth IRAs. Should you be worried?
Be sure to meet the end-of-the-year deadline to take required minimum distributions or to fully fund a 401(k).
The deadline is nearing for older taxpayers to make tax-free transfers from an IRA to charity.
Here are seven things the government could do to increase retirement security.
Congress gave people planning for retirement at least four gifts in the “fiscal cliff” fix.
Here are some loose ends that anyone planning for retirement should tie up by year’s end.