Penalties have become a billion-dollar business for the IRS.

Learn how to calculate your Required Minimum Distributions (RMDs) for your 401(k) or IRA and avoid the hefty 25% IRS penalty for missing a withdrawal.

After turning age 73, the IRS requires you to begin taking withdrawals from certain tax-deferred retirement accounts, like a 401(k), 403(b), or traditional IRA. They're called required minimum ...

You may not have to take a required minimum distribution (RMD) if you're under 73, or if the account meets certain criteria. Look at your account balance at the end of the previous year when ...

You don't have to take RMDs from Roth accounts. RMDs are based on your age and your account balance at the end of the previous year. The $23,760 Social Security bonus most retirees completely overlook ...

Although retirement accounts like 401(k)s and traditional IRAs allow you to deduct your contributions from your taxable income, you don't get to avoid taxes altogether. You're responsible for paying ...

You don't need to take RMDs from Roth accounts or your current workplace plan if you own less than 5% of the company. Your 2025 RMDs depend on your account balance as of Dec. 31, 2024, and your age.

Most people 73 and older have to take their RMDs by Dec. 31, 2025. Failing to take your RMDs can result in a 25% penalty on the amount you should've withdrawn. You can aggregate RMDs from IRAs, but ...