Rules for Inherited IRA Distrbutions

On July 14, the IRS issued Notice 2023-54, which gave some people good news regarding rules for inherited IRA distributions. The notice provides relief for 2023 missed RMDs for non-eligible designated beneficiaries who must follow the 10-year payout rule. It also extends a 60-day rollover deadline for those who took or who were given unnecessary IRA distributions in 2023 to roll them back into their accounts. Dean Barber and Bud Kasper further discussed these rule changes for inherited IRA distributions on America's Wealth Management Show. Tax Reduction Strateiges: https://www.modwm.com/tax-reduction-strategies/?utm_source=AWMS-Pod&utm_medium=AWMS&utm_campaign=inherited-ira-distributionts SECURE Act Content Special Needs Trust Rule Changes from SECURE 2.0: https://www.modwm.com/special-needs-trusts-rule-changes-from-secure-2-0/?utm_source=AWMS-Pod&utm_medium=AWMS&utm_campaign=inherited-ira-distributionts Inherited IRA Rules and the SECURE Act: https://www.modwm.com/inherited-ira-rules-and-the-secure-act/?utm_source=AWMS-Pod&utm_medium=AWMS&utm_campaign=inherited-ira-distributionts Understanding SECURE Act 2.0 with Ed Slott: https://youtu.be/HHPMo9l0yeg Why Compound Interest Is Key: https://youtu.be/4HHC7MLDsc0 IRAs Are Bad for Wealth Transfer: https://youtu.be/zoxwYcLt4-Q RMD Age in 2023: What's Your Required Beginning Date?: https://youtu.be/WZ9iddTMLUQ What DIYers Overlook in Retirement Planning: https://youtu.be/wCMssTo_6mg Pros and Cons of Converting to a Roth IRA: https://youtu.be/7T_BaFtK4gg Asset Allocation vs. Tax Allocation: https://youtu.be/mMqwacOhvzg Check out our other podcast! The Guided Retirement Show: https://www.youtube.com/c/theguidedretirementshow