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Retirees Get Relief in Senate Coronavirus Stimulus Package

Thursday, March 26, 2020

The Senate’s $2 trillion coronavirus-relief bill that passed Wednesday night includes breaks for Americans whose retirement accounts have been battered by the stock-market meltdown.

The House of Representatives is expected to pass the package on Friday. Treasury Secretary Steven Mnuchin said President Trump would sign the package as it was written Wednesday.

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A Strategy for Taking Advantage of the Market Meltdown

Thursday, March 26, 2020

The market’s recent plunge has been brutal.

But for people with traditional individual retirement accounts, the silver lining is that today’s lower account balances can be used to reduce income-tax bills in retirement.

The key is a strategy known as the Roth conversion. This allows account owners to transfer some or all of the money in a tax-deferred IRA to a Roth IRA, a retirement account into which you contribute after-tax dollars and get tax-free withdrawals.

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Did the SECURE Act Kill the Stretch IRA?

Friday, March 20, 2020

What the new rules say about paying taxes on inherited funds

Starting this month, IRA expert Ed Slott is taking your questions about Individual Retirement Accounts. He starts by addressing what to do about new rules in the 2020 SECURE Act that  affect most beneficiaries who inherit tax-deferred funds starting this year.

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