Most Retirees Need to Take Required Retirement Plan Distributions (RMDs) by Dec. 31
The Internal Revenue Service wants to remind taxpayers born before July 1, 1945, that they generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement plans by December 31. “The Special Rule” Known as required minimum distributions (RMDs), these payments normally must be made by the end of 2015. But a special […]
IRA Contributions for 2014 – There’s Still Time
The Internal Revenue Service today reminded taxpayers that they still have until April 15, 2015 to make IRA contributions for 2014, and in many cases, qualify for a deduction or even a tax credit. Roth vs. Traditional IRAs Available in one form or another since the mid-1970s, individual retirement arrangements (IRAs) are designed to enable employees and self-employed people […]
