2020 is a unique year as far as required minimum distributions (RMDs) are concerned. The CARES Act has suspended the requirement for most 2020 IRA distributions–including some 2019 distributions that you might have personally elected to delay until 2020. For our retirees who must take annual withdrawals from their retirement accounts, here is a huge tax saving opportunity for 2020!
Please see this article from Forbes for more details about these suspended RMDs.
[…] Read more