The GOP has high hopes of that the House and Senate tax plans will be reconciled and getting the reformed bill to President Trump’s desk before Christmas. Today, President Trump stated “We’re very, very, close on a tax deal.” However, even if legislation is not approved before the end of the year, it will almost certainly be retroactively dated to January 1,
In 2016, the first wave of baby boomers turned 70½, and many more reach that milestone in 2017 and 2018. What's so special about 70½? That's the age when you must begin taking required minimum distributions (RMDs) from tax-deferred retirement accounts, including traditional IRAs, SIMPLE IRAs, SEP IRAs, SARSEPs, and 401(k), 403(b), and 457(b) plans.