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Posted on Sep 30, 2024

A taxpayer who is required to take an RMD of $ 1 0 , 0 0 0 in TY 2 0 2 3 fails to

A taxpayer who is required to take an RMD of $

10, 000

in TY

2023

fails to do so during the year. What is the base level excess accumulation penalty that this taxpayer will owe before any potential corrective steps are taken?

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