BENEFICIARY ONLY – RMD 10 YEAR EMPTY WIAVER
Overly excited and happy to be wrong by the discovery of another year of RMD Waivers for BENEFICIARY IRA RMD’s announced Mid Week here– the title was not clear… My Bad….
Sorry for the excitement of the many that reached out …the RMD Waiver is only for post 2020 BENEFICIARY IRA’s … Thank you guys for reading the post so diligently and reaching out with questions… I will try to do better next time, knowing most of us are reading these on our Cells… Oh,… we still have to empty within 10 years, but we can handle that much easier!
Final Tax Thoughts
As a partial living diary, and frequently looked back, especially next year during tax time…
We have the following conclusions from this year from tax season:
- Corrected 1099’s will now come sporadically and may come right on the even of tax season – Sorry for the two who received two days before deadline- Yikes
- Self Filers, the download feature works GREAT!
- All did well with the duplicate tax forms (two vendors) Next year there will only be one!
- We were not able to find many tax mistake/savings this year, but rest assured we will continue to try AND that means you guys are doing great!
- We happily reviewed a new all time large number of returns this year, both Personal, Trust and other entities
- The IRS is getting their funds QUICKLY – at this time many have already seen the IRS getting their funds!
Ahhh….but today is a Friday, heading into a late April weekend… the end of the school year cannot get here fast enough for our homestead…. Next week garners some happy travels later in the week – but always tethered…
Enjoy your weekend! Talk Next Week!
John A. Kvale CFA, CFP
AI Content Authenticity: Uncle Sam Image was created by AI. All of the following text content has been completed by myself and has not been edited or created by AI. Occasionally we do use AI for images and will note below the image when appropriate.
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
