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Volume 8 Issue 12





FOR DAILY IRA INFO

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planning information.
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QUESTION OF THE MONTH

Is There a Statute of Limitations on Failing to Report an RMD on My Tax Return?

Q: My son, who is an accountant, looked over my data and found that I reported $5,000 too little on my 2009 tax return. Because this is a pension distribution, he is not sure if the statute of limitations has expired as it would in a normal error on the IRS Form 1040. Is there statute of limitations on RMDs? The Answer

DECEMBER KEY FOCUS

Itís Not Too Late - Yet! 3 Required Minimum Distribution Mistakes to Avoid

Itís that time of year, if you are an IRA owner age 70 Ĺ or older. You must take your required minimum distribution (RMD) before the end of the year. Not taking your RMD or the correct amount can result in crippling penalties. We examine 3 RMD mistakes you must avoid. Remember, itís not too late to take your RMD, just make sure you do it correctly. Read More

RMD RULES TO REMEMBER

8 Things to Know About The Special Spousal Rule That Allows Smaller RMDs

If you have a traditional IRA and are age 70 Ĺ or older this year, you will have to take a required minimum distribution (RMD) from your IRA for 2015. If your much younger spouse is the only beneficiary listed on your IRA for 2015, you may be able to use the special spousal rule. Here are 8 things you need to know about this rule, which may allow you to take a smaller RMD. Read More

INSIDE ED SLOTT'S IRA ADVISOR NEWSLETTER

Budget Actís Big Changes to Social Security Planning

MyRA Retirement Accounts Now Available to All

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TWITTER TALK

@theslottreport: Stay-at-home parents: If your spouse has $11K+ in taxable compensation for the year, you can both contribute $5,500 to your IRAs for 2015.

@theslottreport: Did you know: Non-designated #IRA beneficiary cannot use own life expectancy for calculating required distributions (RMDs) on inherited IRA.

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