December 31st is the deadline for those over age 70½ with tax-deferred retirement accounts to take their required minimum distributions (RMDs) and, after outlining the rules relating to RMDs (such as that hefty 50% penalty the IRS imposes on those who fail to take their distributions on time), today’s article provides some tips for taking RMDs. When – if ever – is it beneficial to use an extension, if you are eligible for one? How can individuals fortunate enough to not need this income continue to “cling to the growth”? CLICK HERE to read more.
