The Setting Every Community Up for Retirement Enhancement (SECURE) Act

Published: 2/28/2020 12:51:34 PM

On December 20, 2019 the SECURE act was enacted into law. It may have an impact on your tax circumstances. Here are eight important reminders about this new law: You can’t use contributions made in 2020 but applied to 2019 for any SECURE Act provisions that apply to contributions made after December 31, 2019.If you inherit an IRA, you now have to empty it within 10 years. But there are many exceptions to this rule, including one for the surviving spouse.You determine whether your inherited IRA qualifies for the old stretch IRA rules on the date of death of the

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Congress Extends Deductions and Credits That May Affect Your 2019 Tax Return (Maybe even 2018)...

Published: 1/31/2020 11:57:17 AM

Congress let many tax provisions expire on December 31, 2017, making them dead for your already- filed 2018 tax returns. In what has become much too common practice, Congress resurrected the dead provisions retroactively to January 1, 2018. That’s good news. The bad news is that we have to amend your tax returns to make this work for you. And you can relax when filing your 2019 and 2020 tax returns, because lawmakers extended the “extender” tax laws for both years. Thus, no worries until 2021—and even longer for a few extenders that received special treatment. Back from the Dead

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