As part of the SECURE 2.0 Act the age to start taking required minimum distributions from traditional individual retirement plans and 401(k)s rises to 73 for 2023 and to 75 a decade later, giving accounts more time to grow in value. Penalties for not taking RMDs are substantially reduced.
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Tim Thompson CPA PLLC is located in Dallas, Texas and is an expert in all areas of Texas taxes. We can help with individual or business taxes, tax resolution, tax preparation, and tax planning services.