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, including information on health savings accounts.   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•             Changes on excess penalty if withdrawn by tax due date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 distribution and 10-year rule

Registrants of this webinar will receive a 600+page IRA Handbook