If you have an individual retirement account, you need to get acquainted with IRS Form 8606 before filing your tax return this year. Failing to file a Form 8606 could result in a $50 penalty unless ...

Explore the ins and outs of a 403(b) annuity rollover to an IRA, including its benefits, eligibility, tax implications, and ...

There is a key change for inherited IRAs for 2025. Here's what beneficiaries need to know before year-end to avoid an IRS ...

If you haven’t filed your 2020 tax return, are you still dealing with complexities created when RMDs (required minimum distributions) were waived for 2020? RMDs are mandated distributions (withdrawals ...

Yes, IRS Form 5498 is one more form for you to deal with, but it doesn't make your tax life much more complicated. It's a benign, and even helpful, form. What's so great about it? Well, you don't have ...

Your 1099-R tells the IRS a story about your IRA distributions. But what if the story is not true? If a distribution was made from your IRA during 2024, your IRA custodian must send you a Form 1099-R ...

What happens to an Individual Retirement Account when the IRA owner dies? It can be a quick online process: The custodian bank or wirehouse transfers the IRA assets into an inherited IRA that the ...

All traditional IRAs are subject to required minimum distributions. Roth IRAs and Roth 401(k)s are never subject to RMDs. 401(k)s are, but there are ways around that. If you’re still working for a ...

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 ...

New formal guidance from the Internal Revenue Service (IRS) extends the deadline for providers of individual retirement accounts and individual retirement annuities (IRAs) to file Form 5498 in ...