Wait. A 50% tax penalty on top of regular taxes?
Due to COVID-19, those that were required to take their minimum distributions from various retirement plans in 2020, could take the year off if desired . Even though some of the benefits of these acts are no longer in effect, some of the rules within them were enacted as permanent changes in 2021. In this blog article, we will look at how these changes affect RMDs in 2021 and beyond.