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Don’t forget mandatory IRA withdrawals

December 8, 2013
By Jason Alderman , Parkersburg News and Sentinel

With final holiday preparations looming, the last thing anyone wants to think about is next April's tax bill. But if you're over 70 1/2 and have any tax-deferred retirement accounts (like an IRA), put down the wrapping paper and listen up: IRS rules say that, with few exceptions, you must take required minimum distributions (RMDs) from your accounts by Dec. 31 of each year - and pay taxes on them - or face severe financial penalties.



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