Question
Grace, a single taxpayer age 78, forgot to take her 2020 required minimum distribution (RMD). Her account balance on December 31, 2019 was $250,000. Taking
Grace, a single taxpayer age 78, forgot to take her 2020 required minimum distribution (RMD). Her account balance on December 31, 2019 was $250,000. Taking into account changes implemented under the SECURE Act and the CARES Act, what is her excess accumulations penalty?
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The Quality Audit A Management Evaluation Tool
Authors: Charles A. Mills
1st Edition
0070424284, 978-0070424289
