Many Americans inheriting an IRA will pay a much larger tax bill under new IRS guidance.“Grandma meant well, but the plan backfired.”
Margaret Rolo, of Rancho Mirage, Calif., hasn’t touched her $400,000 inherited IRA from her mother, who died in 2020.
Figuring out the most efficient way to navigate the tax impact of inheriting individual retirement accounts has become more complicated since the Internal Revenue Service issued proposed new rules in February.
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