As more states start using lotteries as revenue sources, CPAs will face an increased number of tax questions from winners. Recently the Fifth Circuit Court of Appeals considered how to value for ...

The Sixth Circuit Court of Appeals ruled in Carol J. Negron v. U.S., docket no. 07-4460, that the IRS annuity tables of IRC § 7520 provide a realistic and reasonable estate valuation of a state ...

Receiving $30,000 in annuity income can reduce your RMD if the annuity is in a traditional retirement account. It’s important to consider your risk tolerance and long-term goals before committing to ...

Here is my question, which uses hypothetical values for simplicity: My RMD for 2024 is $10,000. Can I avoid paying the IRS the tax on that $10,000 this year by investing the full $10,000 RMD or the ...

The IRS uses required minimum distributions to ensure people take money out of their traditional retirement accounts as they get older. The agency has to collect tax revenue, but beyond that reason, ...