You might assume your chances of being investigated by the IRS are low as you relax in retirement, hosting dinner parties for friends and family and taking more vacations than you ever had to work. After all, it’s clear why the IRS would bother reviewing your tax returns once you’re in your golden years.
Tag: IRS
Don’t Make These RDM Mistakes.
Eventually, after years or even decades of saving, you will need to begin withdrawing and taxing the funds from your retirement accounts. RMDs are required to be taken at age 73 starting in 2023 and at age 75 beginning in 2033. If you make a mistake, it could have serious financial repercussions.
