Tax Facts

Reminder: Penalties for Missed RMDs Reduced, But Not Eliminated Post-SECURE 2.0

The second SECURE Act reduced the penalties that apply to taxpayers who fail to take their required minimum distributions (RMDs) from traditional retirement accounts. The SECURE Act 2.0 reduced the previously-existing 50 percent penalty amount to 25 percent of the missed RMD (the reduction was...

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