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Tag Archives: inherited IRA

IRS Finalizes Inherited IRA RMD Rules, Delays Effective Date Again by Joanie B. Stein, CPA

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Posted on August 13, 2024 by Joanie Stein

In July 2024, the IRS issued final regulations regarding the SECURE Act’s elimination of stretch IRAs for certain non-spouse beneficiaries. The announcement gives taxpayers and their advisors much-needed clarification on the law’s requirement that beneficiaries of inherited IRAs draw down those accounts and pay the related taxes within 10 years of an original owner’s death. […]

IRS Clarifies Rules for Withdrawals from Inherited IRAs by Joanie Stein, CPA

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Posted on September 13, 2022 by Joanie Stein

The 2019 passage of the SECURE Act ushered in a new rule requiring certain beneficiaries of inherited individual retirement accounts (IRAs) to empty those accounts and pay the taxes due within 10 years of an original owner’s death. While the law made it clear that non-spouse beneficiaries cannot stretch out withdrawals from inherited accounts over […]