Wednesday, July 2, 2014
With the Senate Finance Committee looking at major tax changes, Senator Ron Wyden is targeting closing what the committee calls a loophole in estate tax. If passed, the new legislation would no longer allow beneficiaries of IRAs and 401(k)s to spread the distributions and taxes over their lifetime. However, the new law would not be without exceptions, such as for minors , spouses, and those with special needs.
See Nick Thorton, Wyden Targets ‘estate planning loophole’, Benefits Pro, June 27, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.