Ed Slott: How Many Beneficiaries Can I Have for My IRAs?
Q: I have two Roth IRAs at separate brokerage firms.I want to name my wife as beneficiary for one account and my son as beneficiary for the other.
When I die, can my wife convert her account into her own Roth IRA so she does not have to withdraw the money in 10 years
IRS provides expanded tax breaks for coronavirus-related distributions
The IRS released new guidance Friday on taking coronavirus-related distributions from retirement plans in IRS Notice 2020-50.
Coronavirus-related distributions were created under the CARES Act to help those in need withdraw funds penalty-free from their retirement savings.The CARES Act also allows CRD income to be spread over three years and CRDs to be repaid within three years.
IRA Expert Answers More Questions On Required Minimum Distributions
Last month, I outlined how the CARES Act would affect required minimum distributions (RMDs) from retirement plans.But with complex legislation, new questions always arise
Major changes in RMDs and retirement contributions in $2T stimulus plan
In addition to the catastrophic health situation caused by coronavirus, many of your clients are also getting hurt financially, especially in their retirement accounts.You may be able to help them take advantage of several new relief provisions that most of your clients can benefit from immediately.
CARES Act Waives Required Minimum Distributions From Retirement Accounts for 2020
Every month, IRA expert Ed Slott is taking your questions about Individual Retirement Accounts.One is about a potential tax benefit for some retirees included in the "Coronavirus Aid, Relief, and Economic Security Act,” or CARES Act.
Retirement relief Congress should consider now
People with retirement accounts have seen losses through no fault of their own and they need a helping hand
Did the SECURE Act Kill the Stretch IRA?
What the new rules say about paying taxes on inherited funds
Starting this month, IRA expert Ed Slott is taking your questions about Individual Retirement Accounts.He starts by addressing what to do about new rules in the 2020 SECURE Act that affect most beneficiaries who inherit tax-deferred funds starting this year.