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IRS Extends Relief for Inherited IRAs
Legacy Professionals LLP 
[Guidance Overview] Apr. 29, 2024 "[T]he succession of IRS waivers means that designated beneficiaries who inherited IRAs or defined contributions plans after 2019 aren't required to take annual RMDs until at least 2025. But some individuals may be better off beginning to take withdrawals now, rather than deferring them.... [M]any provisions of the Tax Cuts and Jobs Act, including reduced individual income tax rates, are scheduled to sunset after 2025. The highest rate will increase from 37% to 39.6%, absent congressional action." |
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