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2018 Distributions from Individual Retirement Arrangements (IRAs)In this tax subject, we will review some tax rules that relate to distributions from IRAs. Distributions from individual retirement arrangements (IRAs) are very common. An IRA is a personal savings plan that gives you tax advantages for setting aside money for retirement. As a tax professional, you should be very aware of IRAs such as how to setup an IRA and how one treats distributions from an IRA. You should be well versed in the distribution rules and try to encourage your tax clients to do tax planning to avoid paying penalties and fines. We will also look at the the penalties and additional taxes that apply when the distribution rules aren’t followed. The worksheets and forms can help you in complying with the tax rules for IRAs. Once you complete this 2018 distributions from individual retirement arrangements course, you will have satisfied 3 hours of continuing education which satisfies 3 hours of tax law towards your total continuing education required hours. Tax School Home Page Student Instructions: Follow the following 2 steps:
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Tax Interview |
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Question | |||||||||||||||||||
1 |
Introduction - For the introduction part of this
essay, you may want to first answer the following three
questions with one paragraph each and then come back to fill in the introduction and
mention something from each of the three paragraphs.
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2 | What is a deemed IRA? What contributions can be permitted as a deemed IRA? | ||||||||||||||||||
3 | When can you start withdrawing your assets? When must you withdraw your retirment account assets? Are they the same date? | ||||||||||||||||||
4 |
Who can be a designated beneficiary? When is the designated beneficiary determined? | ||||||||||||||||||
5 | Conclusion - For the conclusion part of this essay, you may mention something from the three previous paragraphs and offer an opinion. What do you think about all this? | ||||||||||||||||||
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Revised: 04/02/18 | |||||||||||||||||||
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