On July 14, the IRS issued Notice 2023-54, which gave some people good news regarding rules for inherited IRA distributions. The notice provides relief for 2023 missed RMDs for non-eligible designated beneficiaries who must follow the 10-year payout rule. It also extends a 60-day rollover deadline for those who took or who were given unnecessary IRA distributions in 2023 to roll them back into their accounts. Dean Barber and Bud Kasper further discussed these rule changes for inherited IRA distributions on America's Wealth Management Show. Timestamps: 00:00 – Introduction 01:35 – It’s Confusing 03:01 – Three Types of Beneficiaries 05:27 – Why Did the Govt. Do This? 06:08 – TRIVIA 07:00 – Traditional IRAs Are BAD for Wealth Transfer 09:45 – IRS Notice 2023-54 12:10 – Tax Reduction Strategies 12:54 – Roth IRA to Eliminate Uncertainty 16:59 – Dean Tells a Charitable Story Reducing Taxes 19:03 – What We Learned Today Tax Reduction Strateiges: SECURE Act Content Special N
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