Health Care Choice Improvement Act of 2015

Avoid a 50% penalty: Take retirement plan RMDs before December 31

Avoid a 50% penalty: Take retirement plan RMDs before December 31 After you reach age 70½, you must take annual required minimum distributions (RMDs) from your IRAs (except Roth IRAs) and, generally, from your defined contribution plans (such as 401(k) plans). You also could be required to take RMDs if you inherited a retirement plan (including Roth IRAs). If you don’t comply — which usually requires taking the RMD by … Read more

Recently-enacted law contains tax return filing due date changes

Recently-enacted law contains tax return filing due date changes On July 31, 2015, President Obama signed into law P.L. 114-41, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.” Although this new law was primarily designed as a 3-month stopgap extension of the Highway Trust Fund and related measures, it includes a number of important tax provisions, including revised due dates for partnership and C corporation returns … Read more