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Any tax information or written tax advice contained herein (including any attachments) is not intended to be and cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. (The foregoing legend has been affixed pursuant to the U.S. Treasury Regulations governing tax practice.)
The matters highlighted on this website are presented in general terms and cannot be applied without consideration of all circumstances. NSBN will provide additional details upon request and will be pleased to discuss with our clients or their attorneys the possible effects of these matters in specific situations.
Email Alert
Required Minimum Distributions Suspended for 2009
February 4, 2009
The Worker, Retiree and Employer Recovery Act of 2008 provides that no Required Minimum Distributions from retirement plan(s) and/or IRA account(s) are required for the calendar year 2009.
However, if you turned 70 ½ in 2008 and delayed your 2008 distribution until 2009, you must still take the 2008 distribution in 2009.
If you are age 70 ½ or older, you can also make up to $100,000 of tax-free IRA distributions directly from your IRA trustee to eligible charitable organizations in 2009.
Please call if you have any questions.
