As you read this in early February, your clients are receiving their annual 1099-R forms that report distributions taken in 2020 from their IRAs and other retirement accounts. Once they look the forms ...
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IRS Adds New Reporting Code for Charitable IRA Gifts
One of the most tax-friendly provisions of an IRA is the ability for IRA owners who are at least age 70½ to donate up to $108,000 (2025 limit) directly to an eligible charity from their IRA. This is ...
2020 was an eventful year when it came to IRA required minimum distributions (RMDs), especially for those who took their RMDs before the March 2020 suspension was enacted. Then came rollover relief.
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