The rules for rolling over IRA distributions can be complicated. These rules can become especially challenging at the end of the calendar year. If you are taking a distribution from your IRA at end of 2015 and considering a roll over that may not be completed until 2016, here are four facts you will want to know.
This week's Slott Report Mailbag examines the statute of limitations on assessing additional tax liabilities on required minimum distributions (RMDs) and answers questions on utilizing disclaimers on inherited IRA funds and planning for and paying estimated tax payments.
Are you retired? If so, you may think that a Roth IRA is not for you. Before deciding if a Roth IRA will benefit you as a retiree, here are 10 facts that you will want to know.
The Slott Report Mailbag is full of inquisitive consumers searching for answers on the pro-rata rule, the intricacies of IRA rollovers, and the "due dates" for an IRA owner's first and second required minimum distributions (RMDs).
If you are just starting to save for your retirement or have a family member who is wondering what steps to take for a secure retirement, the recent announcement from the Treasury Department expanding the myRA program is important news. Here's how you can utilize them.
If you have an IRA, you probably are aware that when you reach retirement, there are rules requiring annual distributions. You may have questions as to when these distributions must begin. The rules can be confusing! Here is what you need to know about when you must start taking required minimum distributions (RMDs) from your IRA.
In the past few weeks, there has been upheaval in Congress. With the retirement of House Speaker, John Boehner, the Republicans in the House of Representatives are struggling to elect and unite behind a new Speaker of the House. This turmoil has far-reaching consequences as Congress has a packed legislative agenda and the end of 2015 is rapidly approaching. If you are an IRA owner considering a Qualified Charitable Distribution (QCD) for 2015, Congress' disorder has implications for you.
This week's Slott Report Mailbag answers a question about the IRA rollover procedure compared to trustee-to-trustee transfers and examines the Back-Door Roth IRA strategy. Open this week's mail to read the answers to questions about these two key IRA planning processes.
IRA rollovers are subject to many rules. One of them is the 60-day rule. You have probably heard of this deceptively simple sounding rule, which has caused tax headaches for countless IRA owners. To avoid suffering a similar fate, here are 6 facts about the 60-day rule you should know to be sure your intended rollover goes smoothly.
IRAs are designed to be used for retirement savings. Ideally, to maximize the benefits of these accounts, you should not touch these funds before reaching retirement age. However, in the real world, you may need money and consider tapping your IRA earlier. If you do, you should be aware of the 10% early distribution penalty. This penalty is assessed on early distributions from IRAs, in addition to any taxes you may owe. Here are ten things you should know about the 10% early distribution penalty and IRAs.
