A new tax law will allow retirees to skip required withdrawals from individual retirement accounts and related accounts this year. The change — signed into law by President Bush last month — is intended to give beaten-down nest eggs time to rebound from the brutal bear market.
But the new law may also create confusion, particularly for those just starting to take required withdrawals.
“The [existing] rules are confusing enough,” says Ed Slott, an IRA consultant in Rockville Centre, N.Y. “Now, more people than ever are going to get tripped up.”
Read the rest of the article at the Wall Street Journal.
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