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Accounting & Business Advisors | Certified Public Accountants

Tax Tip #20, Secure Act

Published Tuesday, March 3, 2020 8:30 am

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The new SECURE Act no longer allows many stretch IRAs upon the death of a retirement plan participant or an IRA owner. Generally, distributions to non-spouse beneficiaries are required to be distributed within 10 years following the participant’s death. This could change tax planning for many people who are planning to pass retirement funds or IRAs to the next generation.

For more information, please contact Perry Barnett, CPA, by calling (770) 287-7800 or email pbarnett@rushtonandcompany.com.

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