Each year when talking about tax planning for the next year, I get a lot of frustration from some clients, they are reaching 72 and they don’t need or want to start taking their RMD’s.
Well, I finally have some good news for them, granted it’s not great news but good will suffice. The RMD age limits are going up Due to SECURE 2.0
Starting in 2023, the RMD beginning age is increased to 73. Then starting in 2033, the RMD beginning age will be increased to 75.
With people living longer this should help those who don’t need the money to relax a bit.