New Statute of Limitations for Missed RMDs and Excess IRA Contributions [Richmond Refreshers]
Rules and regulations can certainly be confusing and they always seem to be changing! The SECURE Act 2.0 brought about a new statute of limitations for the IRS to assess penalties for both missed required minimum distributions (AKA RMDs) as well as excess IRA contributions. How far can they look back on these? Tune in to find out the details!
No time to watch? You can read the “closed captions” here.
Sources:
https://casetext.com/case/couturier-v-commr-of-internal-revenue-45
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