Who's Making I.R.A.'s Retiree-Friendly? The I.R.S.
New York Times (01/21/01) Vol. 105, No. 4 p.C10; Rosen, Jan M.

In a sign that it is softening its image, the Internal Revenue Service (IRS) has relaxed rules governing withdrawals from IRAs and other retirement accounts. The move is part of an agency-wide effort to change the public's perception of it. Most financial advisers agree that the sweeping changes are possibly the most significant tax change Americans have seen in 10 years. One notable adjustment is seen in the life-expectancy tables governing required minimum distributions, which have been extended. The modification allows people to leave more money in their accounts to grow tax-deferred for later years or for their heirs. The rule change does not, however, influence the uniform table in the area of joint life expectancy, which as before can be even longer if a spouse who is the beneficiary is more than 10 years younger than the account holder.


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