Required Minimum Distributions are Waived for 2020

The CARES Act, which was signed into law on Friday, March 27, 2020, provides broad relief to IRA owners over 70 ½ who normally are required to take a minimum distribution from retirement accounts annually. The provision covers distributions from IRAs, SEP IRAs, and SIMPLE IRAs as well as 401(k), 403(b) and 457 plans.  No distribution will be required in … [Read more...]

The Stretch IRA is Dead

The SECURE Act, effective January 1, 2020, has ended the Stretch IRA for most adult non-spouse beneficiaries.  The motivation clear and simple is more Tax Revenue for Uncle Sam.  The change from Life Expectancy Distributions to the Ten Year Rule is estimated by the Congressional Research Service to bring in to the federal coffers $15.7 Billion in fiscal … [Read more...]

The Equifax Security Breach 2017

The Equifax security breach is the worst Americans have experienced not only because of the large number of people impacted, but because of the volume of personal data that was exposed to hackers.  Everyone needs to expect that he or she has been affected by this breach and take precautions now to protect himself. A credit freeze locks your credit file … [Read more...]