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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
2008 Required Minimum Distribution
December 2, 2008
If you must take a Required Minimum Distribution from your retirement plan(s) and/or IRA account(s) for 2008, it must be done on or before December 31, 2008.
Congress has discussed modifying this rule and allowing lower Required Minimum Distributions for 2008, but they have not yet made any changes.
If you are age 70 ½ or older, you may make tax-free IRA distributions, up to $100,000 annually, directly from your IRA trustee to eligible charitable organizations. This rule is effective for 2008 and 2009.
