IRS Reminds Retirees About IRA RMDs
The Internal Revenue Service reminds taxpayers who turned 72 after June 30, 2021, and received their first required distribution (for 2021) in 2022 on or before April 1, must receive their second RMD (for 2022) by Dec. 31, 2022. Even though the first distribution is actually the required 2021 distribution, it’s taxable in 2022 and reported on the 2022 tax return – along with the regular 2022 distribution.
For more information, visit the IRS website.
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