The IRS is delaying until 2026 the closing of a key loophole that caused confusion for a subset of employees in a regulation that allowed workers to keep money invested in their workplace retirement plans longer.
Tax regulators issued a notice Wednesday deferring the anticipated effective date of a separate supporting regulation applying to workers born in 1959 that the IRS proposed alongside the broader rule finalized in July.
The overarching rule will begin boosting required minimum distribution ages until workers eventually reach 75 in 2033.
The proposed supporting regulations increase the RMD to 73 for the narrow set of ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.