Snippets or tidbits of useful information about IRAs.
The IRS issued Notice 2020-50, in which they expanded the definition of a Qualified Individual, for Coronavirus-Related Distribution purposes. A qualified individual is one who
Updated for the SECURE Act Click here to download >> 2020 Employer Plan Comparison Table for Small Businesses (download here) This table provides a comparison
The IRS announced the 2018 limits for IRAs and employer sponsored retirement plans on October. 19, 2017 One of the frequently asked questions about the
By www.RetirementDictionary.com staff Individuals may contribute to a Roth IRA only if their modified adjusted gross income (MAGI)s do not exceed a certain amount. See
In response to request for comments, Appleby Retirement Consulting Inc. has sent comments on Form 5498 to the IRS. Please see a copy here
Excerpt: “Abstract: Form 5498 is used by trustees and issuers to report contributions to, and the fair market value of, an individual retirement arrangement (IRA).
Generally, you are required to take a required minimum distribution (RMD) from your traditional IRAs, SEP IRAs and SIMPLE IRAs for the year in which