Permalink Submitted by Alan - IRA critic on Tue, 2013-03-19 16:24
Probably not soon. The current tables date back to 2002, and the ones prior to the 80s. If the pattern holds, perhaps 5 years from now at the earliest. But no guarantee that the pattern will hold.
Permalink Submitted by mk foss on Tue, 2013-03-19 18:47
The original tables came out in 1987 because the laws regrding IRA distributions changed in the 1986 Tax Act. Early in 2001 IRS came out with revised proposed regulations for IRA distributions. Not only didn’t they change the tables but they explained that they didn’t need to be changed. Later in 2001 Congress passed the EGTRRA legislation that directed IRS to change the tables. Thus we have new ones since 2002 which can be changed.I think it will take another act of Congress.
Permalink Submitted by Alan - IRA critic on Tue, 2013-03-19 16:24
Probably not soon. The current tables date back to 2002, and the ones prior to the 80s. If the pattern holds, perhaps 5 years from now at the earliest. But no guarantee that the pattern will hold.
Permalink Submitted by mk foss on Tue, 2013-03-19 18:47
The original tables came out in 1987 because the laws regrding IRA distributions changed in the 1986 Tax Act. Early in 2001 IRS came out with revised proposed regulations for IRA distributions. Not only didn’t they change the tables but they explained that they didn’t need to be changed. Later in 2001 Congress passed the EGTRRA legislation that directed IRS to change the tables. Thus we have new ones since 2002 which can be changed.I think it will take another act of Congress.