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I have a CFP friend who has told me of a change to the IRA tax laws. It is called the Income with respect to decedent law, IRD for short.

He said it has to do with both spouses dying and the IRA passing onto the beneficiaries. The gist of it is the beneficiaries will have to pay excess taxes on any withdrawals that are > 120% of the owners (deceased) annual salary, and the IRA must be withdrawn over a 5 year period or Lump Sum.

Any info or places to get info will be appreciated. I have looked at the IRS publications 590 and others and also tried to search the IRS web site and the web in general, but I am doing something wrong or this is not out yet.

Any help will be appreciated.

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