Setting Every Community up for Retirement Enhancement 

The Consolidated Appropriations Act 2023 contains the retirement account changes we have been waiting for--get ready some go into effect in 2023.  

You will also get a good review and update for the 2022-2023 tax season.   We will look at the regulations on inherited IRAs and the required minimum distributions.  How the IRS is reconciling the two seemingly conflicting statutes on the 10-year rule and decedents already in payout will be covered.

Program Highlights:

Changes: 

-Increase in age for required beginning date distributions—73 and eventually 75

-Higher Catch-up contributions for those 60, 61, 62 and 63

-Emergency distributions up to $1000 per year without 10% penalty

-RMD penalty is reduced from 50% to 25%

-Changes on excess penalty if withdrawn by tax due date

-Statute of limitations on excess contributions

-Amendments extended for CARES Act and SECURE Act 

-Review:

-IRS Notice explains SECURE Act changes on required minimum distributions 

-IRS Notice explains inherited IRAs distributions and 10-year rule 

What you will receive:

600+ IRA Handbook