Senator Baucus Proposes Big Changes to IRAs
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I’ve been a big proponent of planning to preserve the ability to “stretch” inherited IRAs over the life expectancy of the beneficiary, which allows for tremendous tax-deferred growth. In what came as a big surprise, to me anyway, Senator Max Baucus recently proposed requiring that most inherited IRAs be paid out within five years. Now, however, it appears that Baucus is backing off his revenue raising proposal. This brings a collective sigh of relief from IRA owners, financial advisors, custodians, and tax professionals.
