The deadline for certain individuals to begin receiving required minimum distributions (RMDs) is fast approaching. That day is April 1 — but the IRS is not fooling.

Table III shows that the RMD for an individual who is 73 years old in 2024 is typically based on a distribution period of 26.5 years. The Dec. 31, 2023, balance should be divided by 26.5 to calculate ...

There’s a lot of information (and money) on the table during tax season. Unfortunately, that also makes it a prime time for ...

Check out the “Uniform Life Table” in IRS Publication 590-B to help figure what you must withdraw from your account. A financial advisor can also help you make the best decisions when it comes ...

Table III shows that the RMD for an individual who is 73 years old in 2024 is typically based on a distribution period of 26.5 years. The Dec. 31, 2023, balance should be divided by 26.5 to calculate ...

Additionally, the IRS levies a 10% early withdrawal penalty ... Internal Revenue Service. "Publication 590-B, Distributions From Individual Retirement Arrangements (IRAs)." Pages 31-32.

Retirees who turned 73 in 2024 must take their first RMD from IRAs or 401(k)s by April 1, 2025—or face a steep IRS penalty.