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2019 TAX LEGLISATION ON THE MOVE


Lee B

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Three new tax bills have been voted out of the House Ways and Means Committee with broad bipartisan support with zero "no" votes:

https://www.taxprotoday.com/opinion/2019-federal-tax-legislation-starting-to-take-shape?feed=00000158-3f5d-dcbd-abf8-ff7f12270000

I found the most interesting provisions to be:

1.  Repeal of maximum age for IRA Contributions !

2.  Change age to begin RMDs from 70 1/2 to 72 !

3.  Increase Failure To File Penalties !

4.  Tighten and Restrict Distribution Rules for Beneficiaries of Qualified Retirement Plans and IRAs !

 

Also significant is no movement on any of the Tax Extenders or any of the TCJA Technical Corrections !

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