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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.
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.
The federal government’s 401(k)-style retirement plan changed some rules around contingent beneficiaries in 2022.
Charitable giving is a uniquely American phenomenon, driven by both social and tax considerations. In 2022, Americans gave $499.33 billion to charitable causes, according to the annual Giving USA dataset. Just under two-thirds of that came directly from individuals (not corporations, foundations, or bequests). Along with that groundswell of giving, nearly one in three American adults volunteer to help organizations they believe in, based on an AmeriCorps study. Six out of 10 American households are charitable, according to The Philanthropy Roundtable. Altogether, generosity seems to be somethi...