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|Subject: Re: Mandatory IRA withdrawal ever eliminated?||Date: 2/28/2001 1:01 PM|
|Author: telegraph||Number: 129 of 175|
" Do you think the 70.5 age mandatory IRA withdrawal start ever be eliminated? Has anyone ever suggested it? Is anybody interested?
Thank you in advance for your responses.
NO NO AND NO...the gov't wants it's money...and the only way it gets the 'income tax' on the money in your IRA Or 401K is if you have to take it out...they 'deferred' the taxes.....not forever....so there is very very little possibility they would be interested in postponing this income....
Also, anyone who would inherit the IRA/401K, if you should say, no longer need it at 71, would immediately likely have to start making withdrawals (joint accounts excepted and a few other cases).....
Uncle Sam wants his taxes!!!!
Of course, in a Roth, things are different...but you already paid taxes on the money that went in.......
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