2020 Tax Law Changes to Traditional IRA Retirement Accounts

Mac Tax® CPA (Accounting, Tax, Business, Stocks, Crypto, NFTs and more)

The Further Consolidated Appropriations Act of 2020 made changes to traditional IRA's. These changes included removing the age cap to contribute to a traditional IRA, raises the age to 72 for RMD's, and changes the rules for inheriting a traditional IRA. Tune into this weeks episode to learn the full details about the FCAAs impact on traditional IRA retirement accounts and how to change your tax strategy to adjust for these new law changes.