IRS Raises More Questions on New Retirement Account Provisions (1)

In the movies, retirement always looks so relaxing. It’s all balmy weather, free time, lunch hour cocktails, and cruises.

But here’s the part that they don’t tell you: When it comes to figuring out retirement accounts, it’s not so easy. There are lots (and lots) of rules that govern contributions and distributions, and running afoul of those rules can result in a headache.

Congress claimed they wanted to make saving for retirement easier by passing the SECURE Act of 2019. But, as taxpayers and tax professionals are learning, the SECURE Act did not simplify things. A set of proposed regulations ...