The Twelve Days of Taxmas – Required Minimum Distribution (RMD) Reminder
As Christmas approaches, Klatzkin is putting a twist on a holiday classic. But rather than filling your head with drummers drumming and golden rings, we’re focused on providing tips through “The Twelve Days of Taxmas” blog series that could help minimize your tax liability.
On the fourth day of Taxmas, my accountant gave to me a reminder that Required Minimum Distributions (RMDs) are required in 2021 for anyone who has reached age 72 during the year or reached 70 ½ before 2020. In 2020, RMDs were not required due to the COVID-19 pandemic.
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For additional information on Required Minimum Distributions (RMDs) or to learn more about how Klatzkin can help with another tax-related issue, click here to contact us. We look forward to speaking with you soon.
©2021 Klatzkin & Company LLP. The above represents our best understanding and interpretation of the material covered as of this post’s date and should not be construed as accounting, tax, or financial advice. Please consult your tax advisor concerning your specific situation.