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Breaking Down the Confusing New Rules About Required Withdrawals from Retirement Accounts

A confusing tax requirement has grown even more so this year, as a new age for required minimum distributions, or RMDs, from retirement accounts takes effect. Many older adults don’t know they must begin withdrawing money from their retirement accounts in their early 70s and paying income taxes on that money. It’s the government’s way of finally getting a piece of retirement savings that have grown tax-deferred for decades.
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