Podcast: Required Minimum Distributions under the CARES Act

April 17, 2020

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In the multitudinous legislation that is unfolding as a result of the coronavirus pandemic, the IRS has issued relief from taking required minimum distributions (RMDs) from IRAs and employer sponsored plans under the CARES Act. Bob Keebler, CPA/PFS, interviews Ed Slott, CPA, in this fast-paced, jam-packed episode about the impact of the CARES Act on RMDs:

  • What is the new RMD rule under the CARES Act and how does it work?
  • Who is eligible to waive the RMDs and who does it benefit?
  • What are the tax planning strategies you should consider?
  • How does this provision impact the 5-year rule and IRAs without a designated beneficiary?
  • What if you already took your RMD and you don’t need it?
  • How do you piece together the various guidance and relief to understand the rules?

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The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) program which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

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