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On April 16, 2024, the IRS issued Notice 2024-35 ("Notice") which further extends required minimum distributions ("RMD") relief for the fourth year in a row while plan sponsors.
The new rules apply to IRA beneficiaries who received an inheritance in 2020 or later. Tax planning can help minimize the taxes you owe on your inheritance.
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On February 7, 2024, the Internal Revenue Service (IRS) announced it has commenced the second phase of its Pre-Examination Retirement Plan Compliance Program Pilot.