The rules have changed for 2023
 â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â
Â
Â
Dear reader,
As we look forward to the year ahead, I want to remind you of one of the
most powerful ways to support our editorial team: making a tax-free gift
from your traditional IRA.
<[link removed]>
If you or someone you know is subject to a Required Minimum Distribution
- the legal amount you must withdraw from your Individual Retirement
Account on an annual basis - the rules have changed for 2023.
Make my IRA gift to TAP today! Â
<[link removed]>
The SECURE 2.0 Act, which President Biden signed into law on December
29, updated the age for RMDs effective January 1 so that retired persons
73 and older - as well as those who reached age 72 before that date
- must take an RMD in 2023. And, if you turned 72 in 2022, you might
have to take an RMD by April 1, 2023, and another by December 31. Â
Â
If you haven't withdrawn any funds from your IRA yet in 2023, your
first withdrawal will automatically count toward your RMD and add to
your taxable income for this year - unless it's a direct gift to a
nonprofit like The American Prospect.
If you have any questions about IRA giving, ask your financial advisor
or feel free to contact me <mailto:
[email protected]> and I can
direct you to more information.
Thank you for your dedication to the Prospect.
Sincerely,
Ellen J. Meany, Publisher
Â
[link removed]
Â
Your contribution is tax deductible and goes directly to supporting our
editorial team. Note if you choose to receive the print magazine via
mail, the value is $60 per year. Any amount you pledge beyond that is
100% tax deductible.
**American Prospect, Inc. 501(c)(3) FEIN 52-1617061**
Â
Copyright (C) 2023 The American Prospect. All rights reserved.
_________________
Sent to
[email protected]
Unsubscribe:
[link removed]
The American Prospect, Inc., 1225 I Street NW, Suite 600, Washington, DC xxxxxx, United States
