Many Americans inheriting an IRA will pay a much larger tax bill under new IRS guidance.“Grandma meant well, but the plan backfired.”
Margaret Rolo, of Rancho Mirage, Calif., hasn’t touched her $400,000 inherited IRA from her mother, who died in 2020.
Figuring out the most efficient way to navigate the tax impact of inheriting individual retirement accounts has become more complicated since the Internal Revenue Service issued proposed new rules in February.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The IRS Is Working On A New Tax Form To Capture Your Crypto ActivityStarting January 1, cryptocurrency exchanges will be required to report their customers’ annual cryptocurrency gains and losses to the Internal Revenue Service, similar to stock brokerages.
Read more »
I've been building homes for 40 years, and here's what has to change if the U.S. wants more starter homesOPINION: To help builders produce entry-level housing in local communities, state and local officials must overturn inefficient zoning rules, lower impact fees and other upfront taxes associated with housing construction.
Read more »
Instagram users not thrilled with push to video. App’s CEO says it’s the future.Instagram is revisiting recent changes made on its social networking service, including an expanded focus on videos, like Reels, and recommended posts, after a pushback from users and popular celeb…
Read more »
Rolling Over A 401(k) To An IRA Can Cost You Thousands Of DollarsWhen leaving an employer, don't automatically roll over the 401(k) account to an IRA.
Read more »
Texas militia member gets most serious Jan 6. sentence yet: Just over 7 yearsFederal prosecutors' first request to draw tougher punishment for a Jan. 6 defendant fell short today when a judge rejected a terrorism sentencing penalty, saying it would create an “unwarranted sentencing disparity” with other cases.
Read more »