All articles tagged with #irs rules
Inherited IRA owners, especially non-spouses, should be aware of complex IRS rules like the 10-year rule and RMD requirements to avoid costly penalties and taxes. Proper planning involves understanding these rules, managing tax implications over the distribution period, and adjusting investments to match personal goals and risk tolerance to maximize the inheritance.
The US Treasury Department has released detailed guidance on wage and apprenticeship requirements for projects utilizing clean energy tax credits. The proposed rules build on previous guidance and provide flexibility for fixing underpayment errors and for projects unable to hire apprentices. Companies that pay the prevailing wage and use qualified apprentices can earn five times the baseline value of tax credits. The guidance also includes provisions to waive penalties for wage errors if corrected within 30 days and a "good faith" exception for using registered apprenticeship programs if none are available. The Treasury and IRS are accepting public comments on the proposed rules until October 30.