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March 2021 - Accu-Tax

The House of Representatives passed the American Rescue Plan Act, H.R. 1319, on Wednesday by a vote of 220–211. It now goes to President Joe Biden for his signature. He is expected to sign it quickly. H.R. 1319 was first passed by the House on Feb. 27. The Senate made several amendments and passed its version...

For retirement plan in 2020, the SECURE Act and the CARES Act have created some changes. Required minimum distribution (RMDs): Taking required minimum Distributions (RMDs) rises from 70 ½ to 72, at the beginning age, under the SECURE Act. Keep in mind that after 2019, who turned 70 ½ this change only applies to account...

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Copyright by Accu-Tax. All rights reserved.