Inheriting an individual retirement account? Here’s how to avoid a tax bomb

by | Jul 6, 2021 | In The News

Published on July 6, 2021 by CNBC

While inheriting money is typically a good thing, newer individual retirement account rules may leave some heirs with a smaller windfall.

Thanks to the Secure Act of 2019, certain heirs now have less time to take IRA withdrawals. The law stopped the so-called stretch IRA, which allowed non-spouse beneficiaries to “stretch” distributions over their lifetime.

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