Repeal of RMDs for 2008 & 2009?
A FA said she heard a rumor that RMDs may be repealed for 08 & 09. Has anyone else heard this? Or is this just more tripe from the candidates that may never see the light of day?
A FA said she heard a rumor that RMDs may be repealed for 08 & 09. Has anyone else heard this? Or is this just more tripe from the candidates that may never see the light of day?
Permalink Submitted by Alan Spross on Thu, 2008-10-30 22:12
I think the latter.
Note some of the technical challenges noted in doing this from Barry Picker and Kaye Thomas in the att’d:
http://www.marketwatch.com/news/story/IRA-savers-dont-have-wait/story.as…
IRA owners may need to settle for their greatly reduced 2009 RMD, and in any event there are alot fewer problems if the waiver addresses 2009 rather than 2008.
Permalink Submitted by Janine Janine on Sun, 2008-11-02 02:14
If Congress is truly concerned about consumer caution and the lack of consumer spending increasing the economic crisis and deepening the recession and the concomitant job losses, they will do something about [b]2008 RMD[/b] being based on [b]2007[/b] year-end balances. This would help far more than waiting for 2009 RMD being waived. Additionally, it would help far more than a token economic stimulus package, which did little to offset inflation or increase employment opportunities.
Permalink Submitted by Al Fry on Sun, 2008-11-02 03:01
That is a pretty bold assumption, that Congress or either candidate cares about us or knows what an RMD is. They have one goal in mind-get re-elected. On Wednesday, they’ll start planning for 2012. Of course that will prevent them from making any really bold changes, which is good for us.