The IRS Wants Your Inheritance

The SECURE Act and the Tax Cuts and Jobs Act (TCJA) are gunning for your money – the IRS wants your inheritance and plans to get it through changing the rules on how long you can keep an inherited IRS and requiring most non-spouse IRA and retirement plan beneficiaries to drain inherited accounts within 10 years after the account owner’s death, and by performing “clawbacks” through the TCJA provisions.

Money, money, money

Here’s a great piece in MarketWatch that gives you much more detail.

You know, the people in Washington said the new tax plan would really help average Americans, but as more and more is learned about the details, it’s obvious that most middle-class Americans are going to have to be more more careful in certain areas of tax planning.

Let’s hope everyone gets the help they need in this regard.

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