Retirement plans offer a terrific opportunity for taxpayers to save for their retirement in a tax-deferred way. While several types of these plans exist, most individuals have some level of familiarity with the Individual Retirement Account (“IRA”). IRAs have limits on the allowable contributions and a schedule regarding when distributions need to begin occurring. Recently, the Biden Administration released its Fiscal Year Revenue Proposals for 2024 that contained a provision regarding preventing excessive accumulations by high-income taxpayers in such accounts. Read on to learn more.
- The SECURE Act – the Gift That Keeps On Giving - October 12, 2023
- A Real-Life Look at the Application of the Slayer Statute - October 5, 2023
- Gen X – This One’s for You (Really Every Generation Should Read This) - September 27, 2023