IRA’S AND RETIRING PLANS: DEFUSING THE TAX TIME BOMB

Distributions from IRA’s are taxed at ordinary income tax rates. Also, under IRC Sec. 4980A, there is an excise tax of 15% on distributions in excess of $155,000. Upon death, the IRA distributions are subject to the “income with respect to a decedent” rules under IRC Sec. 691 (“IRD”) and are taxed as ordinary … ................
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